Taxes
Latest in Taxes
Green Card Holders Who Naturalize Risk Losing Citizenship Over Tax Under-Reporting
Effective July 2025, intentional tax under-reporting threatens citizenship for green card holders and new citizens. USCIS and IRS jointly enforce…
How to Allocate Cost Basis Between Land and Buildings in Real Property
For immigrants and investors, cost basis includes purchase price, mortgage assumed, and specific fees, divided by fair market value between…
Understanding Property Basis and Cost Basis for Tax Purposes
Understanding basis and cost basis is vital for U.S. property taxpayers including owners, immigrants, and investors. It details calculation methods,…
Comprehensive Guide to Reporting Other Gains, Income, and Taxable Events
Immigrants and U.S. residents must report all income types, including unemployment benefits and business property sales, using IRS forms 4797,…
Tax Treatment of Alimony Payments Before and After 2018 Changes
As of 2019, alimony payers cannot deduct payments on federal taxes, and recipients do not report alimony as income. Old…
Falsifying Tax Returns Risks Losing U.S. Citizenship Under Trump
Tax fraud can now cause loss of U.S. citizenship starting July 25, 2025. IRS-ICE data sharing enables immigration enforcement. Naturalized…
How to Report Additional Income and SALT Refunds on Schedule 1
For 2024, IRS revises Schedule 1 guidelines for reporting additional income and SALT refunds with a $10,000 cap. Taxpayers must…
How to Qualify for Oman’s 10-Year Investor Residency Program
Oman's Investor Residency Program offers up to 10-year visas for investments of OMR 250,000+. Applications are online, processing takes 5–15…