If you have a foreign pension or investment account abroad, you've probably never heard of a PFIC. That's a problem — because the IRS has, and the tax rules around them are brutal.   What's a PFIC? PFIC stands for Passive Foreign Investment Company. In plain English: almost any foreign fund. Foreign mutual funds, foreign ETFs, foreign pension funds that invest in pooled vehicles — they almost all qualify. If your foreign pension invests in foreign funds (which virtually all d

Should you amend a tax return — or wait? In domestic filings, corrections are often straightforward. But when foreign income or international reporting is involved, the decision becomes more strategic. Missed foreign income, FBAR filings, and forms like 8938, 5471, or 3520 can carry penalties even if no tax is owed. This article explains when amending reduces risk, when waiting makes sense, and why international corrections require careful evaluation before taking action.

The rise of remote work has transformed the tax landscape, and 2025-2026 is a pivotal year as remote employees and self-employed individuals navigate increasingly complex state, federal, and international rules. Remote work provides flexibility, but it also carries tax risks that can result in double taxation if not planned for properly. If you live in one state but work remotely for a company in another, your wages may be subject to taxation in both states. Certain states, s

If you’re a U.S. citizen or green card holder living overseas and haven’t filed U.S. tax returns in a while, don’t panic—there may be a...