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COVID PROCEDURES AFFECTING THE FOREIGN EARNED INCOME EXCLUSION

In response to the pandemic, the IRS has waived the residency and presence tests that apply for purposes of the 2019 and 2020 foreign earned income and foreign housing cost exclusions. The waiver generally applies to certain U.S. individuals who were in China as of December 1, 2019 or were otherwise outside the United States as of February 1, 2020. This should be considered as you undertake your year-end planning.

YEAR-END TAX PLANNING FOR NONRESIDENT ALIENS AND FOREIGN CORPORATIONS “STUCK” IN THE US DUE TO COVID

The IRS provided relief to nonresident aliens and foreign corporations affected by the novel coronavirus (COVID-19) pandemic. More specifically, the relief applies to eligible parties who normally would not conduct business in the United States but have done so because they could not leave the country during the COVID-19 crisis. These issues should be considered as part of your year-end planning.
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