Global Feed

This long holiday weekend offers us Americans an opportunity to officially, and in as unified a way as we can nowadays, remember and honor those who fought and died for the freedoms we hold sacred. That somber acknowledgment also is why I’m a bit ticked off today. Last week, a man who was part of the private sectors that’s supposed to support our troops pleaded guilty to tax crimes. And he used the military defense firm to which he formerly belonged to commit the felonies. Douglas Edelman founded and owned half of Mina Corp. and Red Star Enterprises (Mina/Red Star),... Read more →


Pope Leo XIV during an audience with the media on May 12. (Photo by Edgar Beltrán, The Pillar/Wikipedia Commons) On May 8, history was made by the Catholic church. Chicago native Cardinal Robert Prevost was elected to succeed the late Pope Francis. Pope Leo XIV, the name Prevost chose as the new Bishop of Rome and leader of Catholics worldwide, is the first American to be pope. There’s been much pride in and curiosity about the man who now is the supreme pontiff. But I must admit that one of my favorite comments about the election of Pope Leo XIV... Read more →


The April 15 federal income tax filing deadline is Tuesday. For most folks, that’s the only thing they have to worry about on that day. But there are some of us for whom Tax Day means more tax tasks. Here are nine instances — yes, that includes the regular annual filing of tax returns — where some people might need to take additional tax action on April 15. Most of these tax-related moves will ensure you fulfill your tax duties and avoid any additional contact with the Internal Revenue Service. But some also could save you some tax dollars. File... Read more →


Updated Monday, April 14, 2025: All taxpayers in Tennessee and Arkansas now now have until Nov. 3, 2025, to file their tax returns. The Internal Revenue Service announced this latest major disaster related tax relief in connection with disastrous weather in those states that began on April 2, 2025. The Volunteer State was hit by severe storms, straight-line winds, tornadoes, and flooding. The Natural State was struck by severe storms, tornadoes, and flooding. U.S. service members posted abroad, as well as civilian taxpayers living and working overseas, don't have to file their tax returns in April. Neither do taxpayers in... Read more →


Photo by cottonbro studio All of us with older cars, but not enough to buy a newer one right now, are watching Donald J. Trump's latest tariff move. What he sees at Liberation Day on April 3, could mean we drivers are stuck dealing with aging autos for a bit longer. Trump's convinced that his latest trade war volley, a 25 percent tariff on foreign-made vehicles and parts, will lead to a fundamental transformation of the U.S. economy. A lot of people, both economic experts and U.S. consumers agree, but not in the same positive reconfiguration that the 47th president... Read more →


Photo by Porapak Apichodilok You took that job in Rome and things are working out great. But you discovered that there’s one part of the United States that hitched an international ride with you. The Internal Revenue Code. Thanks to our worldwide tax system for individuals, as a U.S. citizen you remain a U.S. taxpayer, regardless of where you live. That makes you responsible for filing federal tax returns on your overseas earnings. Uncle Sam, however, does provide some tax breaks to his citizens living and working abroad. They get more time to file, with a June 15 deadline. And... Read more →


Photo by Julentto Photography on Unsplash International travel is a dream for many Americans. Some enjoy their jaunts so much, they decide to move instead of just vacation abroad. A foreign relocation means many changes. But one thing doesn’t change. U.S. citizens who live and work abroad still owe U.S. taxes on their income. Thanks to Uncle Sam's reliance on a worldwide tax system at the individual level, the U.S. Treasury gets a piece of your earnings regardless of where in the world you make it. There are, however, some tax provisions that can help U.S. workers in other countries.... Read more →


Global taxes can be a real puzzle. (Rubik's Globe photo by Alan Kotok via Flickr CC) Every presidential year, some U.S. citizens proclaim they’ll move out of the country is their candidate loses. This year, some wealthy folks say they’ll contemplate international relocation if Vice President Kamala Harris wins and moves to enact higher taxes on their income demographic. Even if she does defeat her Republican opponent, she’ll need support of Congress. And whether the House or Senate or both will break for the Democrats is as unclear as the presidential race, even as Nov. 5 nears. But just in... Read more →


UPDATE, Sunday, Oct. 27, 2024: The Internal Revenue Service granted tax relief to taxpayers in Juneau, Alaska, following the early August glacial outburst flooding in that state's capital city and borough. Affected Alaska taxpayers now have a May 1, 2025, tax relief deadline. UPDATE, Friday, Oct. 11, 2024: The Internal Revenue Service has granted tax relief to all Florida individual and business taxpayers in the wake of Hurricane Milton, which struck the Sunshine State's Gulf Coast on Oct. 9. In addition, the IRS also today announced disaster tax relief and a Feb. 3, 2025, deadline for individuals and businesses of... Read more →


Photo by Alesia Kozik The 2024 election features a lot of firsts. We’ve seen the first sitting president to withdraw from the race after securing enough delegates to win his party’s nomination. The first woman of color seeking the presidency. The first person convicted of (and facing more) felony charges running against her. It’s also the first presidential race in which crypto currency could play a major role. Blockchain companies have supplied 48 percent of the $248 million of corporate money donated to influence federal elections this cycle, according to research by the nonprofit watchdog group Public Citizen. To be... Read more →


This street art in Barcelona, Spain, isn't exactly what tourists want to see when they visit the capital of Catalonia. Public sentiment against the crush of tourists has prompted the city to seek an increase in its tax on cruise passengers who disembark in the Mediterranean Sea metropolis. (Photo by Mattsjc via Wikimedia Commons) COVID-19 literally is in the rear-view mirror for millions of travelers. After a rush to see new places and revisit old favorites as soon as coronavirus restrictions eased, travel now is returning to pre-pandemic normal. Customers are going back to basics, looking for, as they did... Read more →


Paul Baxendale-Walker, a former tax advisor and attorney, or solicitor as the profession is known in the United Kingdom, has had his share of run-ins with British officials. Most recently, Baxendale-Walker was facing a £14 million penalty ($17.7 million U.S.) sought by His Majesty's Revenue & Customs, or HMRC, the British version of our Internal Revenue Service. HMRC filings against the Baxendale-Walker estimate his schemes have cost the exchequer some £1 billion ($1.27 billion U.S.) in lost taxes. Now, however, Baxendale-Walker is off the hook for the fine. But what's probably more frustrating for U.K. tax officials that losing out... Read more →


Photo by Ben White on Unsplash Remember the Paradise Papers? They are part of the alliterative financial revelations by the International Consortium of Investigative Journalists (ICIJ). Per the ICIJ’s blurb, the Paradise Papers reveal in 2017 exposed the “secrets of the global elite” hidden in the files of “prestigious offshore law firms, a specialized trust company and 19 company registries in secrecy jurisdictions.” That ICIJ financial scoop was preceded in 2013 by the Panama Papers, and followed in 2021 by the Pandora Papers. Now, best-selling Swedish author Håkan Nesser, whose name appeared in the Paradise Papers, has been sentenced to... Read more →


It’s not even officially summer yet, and already taxes are intruding on seasonal fun for taxpayers across the United States. Specifically, June 17 is Tax Day for individuals who are in one of three special categories. Since that’s less than a week away, they need to get to work now so they meet the fast approaching deadline. In most cases, missing it will mean owing even more to Uncle Sam thanks to tax penalties and inters that will be added to any tax due next Monday. Estimated taxes: Millions of taxpayers make estimated tax payments every year on income that’s... Read more →


Almost a year ago, the man dubbed Bitcoin Jesus because he made a fortune as an early advocate of the digital currency, was indicted on mail fraud, tax evasion, and filing false tax return charges. We found out about the $48 million tax evasion and other charges this week when the Department of Justice (DoJ) unsealed the June 2023 indictment naming Roger Keith Ver. He was arrested in Spain based on the criminal charges, and U.S. law enforcement officials are seeking Ver’s extradition. The indictment, announced by DoJ on April 30, alleges that Ver formerly of Santa Clara, California, owned... Read more →


Yelena Blinovskaya and Alexei Blinovsky in happier times shared on her Instagram account. I'm confident that the hubby loves me. But does he love me enough to head off to war? I don't ever want to find out that answer for many reasons, including the "what the what?" follow-up questions it would raise. But that startling scenario just played out in Russia. And yes, it involves taxes. Influencer tax evasion charges: Yelena Blinovskaya, a self-help coach and Instagram influencer, was arrested at the Russian-Belarus border in April 2023 for allegedly trying to flee her native country to avoid paying a... Read more →


Today's post on the second half of the 2024 Internal Revenue Service's Dirty Dozen tax scams looks at a wide range of schemes and potential victims. Tax pros are targets, as are high income earners in schemes 7 through 12. Together with the Dirty Dozen's first six scams posted last week, there's a scam for almost all of us taxpayers. Take notice and don't become a Dirty Dozen victim. Last Friday, I shared the first six of the Internal Revenue Service's annual Dirty Dozen list. As promised, this post wraps up schemes, cons, and scams 7 through 12. This compilation... Read more →


Update, Oct. 1, 2024: The Internal Revenue Service announced today that due to recent terrorist attacks in Israel, the agency is providing additional tax relief to affected individuals and businesses, now postponing until Sept. 30, 2025, a wide range of deadlines for filing federal returns, making tax payments, and performing other time-sensitive tax-related actions. Notice 2024-72, posted today on IRS.gov, covers similar groups but is separate from Notice 2023-71, which originally provided relief to taxpayers affected by the Oct. 7, 2023, attacks in Israel. Natural disasters aren't the only catastrophes that affect taxes. Manmade tragedies also are taken into consideration.... Read more →


Updated Thursday, April 4, 2024 via GIPHY Tax Day is less than two weeks away, but some aren't sweating the April 15 filing deadline. They have more time to complete their tax paperwork and, in some cases, may any associated payments. Here's a look at the special situations where taxpayers have more time to file their federal tax returns. International, including military, taxpayers: When it comes to individual taxes, the tax code doesn't care where you live. If you're a U.S. citizen or resident alien, including those with dual citizenship, you must pay tax to Uncle Sam even if you're... Read more →


Photo by Nareeta Martin on Unsplash Moving to another country for a job involves a lot of changes, but one thing stays the same. Thanks to our worldwide tax system for individuals, as a U.S. citizen you remain a U.S. taxpayer, regardless of where you live. That makes you responsible for filing federal tax returns on your overseas earnings. Uncle Sam, however, does provide some tax breaks to his citizens living and working abroad. They get more time to file, with a June 15 deadline. And thanks to tax treaties, globally peripatetic taxpayers also get certain foreign earned income exclusions... Read more →