Noa Tax Services

Taxpayers have already started receiving the second round of EIP. $600 per eligible taxpayer $600 per eligible child Automatic distribution, no need to contact the IRS... A link to the Get My Payment portal in the first comment.

Mistakes Taxpayers make #1: Not consulting a Tax Professional before moving to the United States. This is the first in a series of articles discussing common mistakes people make in regard to their US taxes, the possible consequences and how (if at all) they can be fixed. Meet the Gil family - The Gils are a young family who moved to the US from Israel as a couple and had a baby soon after. The wife is a Natural Born US citizen and an Israeli citizen, the husband was an Israe...li Citizen who was awarded a Green Card before the move. They moved to California for the wife’s job in a well-known high-tech company. The husband was self employed in Israel and was planning to continue operating his business in the US. What they did - or actually what they did not do - they did not consult a tax professional prior to moving to the US. Instead, they talked to family members and friends (none of which was a tax expert) to try an understand their tax reporting requirements. They were told that once you live in the US, it’s easy, you simply use an online service to report your income and that’s it. Not only that - they should usually expect a nice fat refund from the US government! Great! They thought, and that’s what they did. Spoiler: They made some major mistakes on their tax return. They did not report foreign income and foreign financial assets which could have result in very heavy penalties and of course made them non tax compliant. Could it be fixed and how it could have been avoided? A link to the full article on the first comment.

Attention US Taxpayers: On your 2020 tax return, you'll be able to deduct up to $300 of charitable contributions made to qualifying charities even if you don't itemize deductions! See the first comment for the IRS publication.... (Image from: https://images.app.goo.gl/idwPkrngJiG6CRhC6)