Living Abroad? This is Essential Information Regarding Taxes

Living Abroad? This is Essential Information Regarding Taxes

Residing or retiring outside the United States does not exempt you from filing U.S. taxes. 📌 Here are some important aspects of tax responsibilities to consider: The United States is one of only two nations globally that imposes taxes on the worldwide income of its...
Recommendations for Preventing an IRS Audit

Recommendations for Preventing an IRS Audit

The IRS is striving to limit the number of audits for taxpayers with incomes below $400,000; however, specific aspects of their tax returns may still attract attention, irrespective of their income level. The Treasury Inspector General for Tax Administration (TIGTA)...
The Available Options if You are Unable to Pay your Taxes

The Available Options if You are Unable to Pay your Taxes

The deadline for filing taxes in 2023 was April 15, 2024. While many Americans received refunds, the percentage of individuals who owe the Internal Revenue Services (IRS) has steadily increased over the years, rising from approximately 39% in 2021 to 43% in 2023,...
Tax Filing Deadlines and Key Dates for 2024

Tax Filing Deadlines and Key Dates for 2024

If you are a U.S. citizen, have interests in the U.S., operate a foreign business entity, or are a U.S. citizen residing in Canada, it is crucial to be informed about the significant dates and deadlines related to income tax filing obligations. At Wave Tax, we...