Let’s talk about geography… and taxes.
- If you live in a foreign country hit by the COVID-19 pandemic, you may have to return to the U.S. If so, you may worry that you’ll get hit with a huge tax bill for failing to meet the foreign earned-income exclusion requirements. Ouch!
- If you’re a non-resident alien who got stranded in the U.S. because of the COVID-19 pandemic, you too may be worried. Why? Because the IRS will consider you a U.S. resident for tax purpose and Uncle Sam will tax your total worldwide income. Again… Ouch!
Well, don’t worry. The good news is that, if you qualify, the IRS provides you with welcome relief in either case.
To get the complete story, and take the worry away, read the full article titled Tax Tips: COVID-19 Relief If You Work Abroad or Travel to the U.S. to Work.
Here are just some of the important subjects we’ll cover
- How to take advantage of the foreign earned-income exclusion
- The details of how “exclusion relief” works
- The rules governing U.S. residency
- How to get U.S. residency relief
- Easy-to understand examples that will make complex tax issues clear
You’ll get full details when you read the full article
COVID-19 Relief If You Work Abroad or Travel to the U.S. to Work.