Relinquishing your United States citizenship without fully wrapping up your federal tax obligations can lead to severe financial consequences. Under the strict U.S. expatriation tax regime, failing to properly exit the tax system can cause you to be hit with an expensive “exit tax.”
How Crypto Hard Forks and Airdrops Are Taxed
Navigating the tax responsibilities of digital assets can be complex, and few areas cause more confusion than blockchain protocol updates. When a network splits or changes its rules, it can inadvertently trigger a federal tax liability for token holders.
The IRS pays close attention to these protocol changes, particularly how they can lead to unexpected taxable income.
June 2026 Tax Due Dates
June 15 Individuals: File a 2025 individual income tax return (Form 1040 or Form 1040-SR) or file for a four-month extension (Form 4868) if you live outside the United States and Puerto Rico or you serve in the military outside …
Summer Day Camps May Qualify for the 2026 Child Care Credit
With summer vacations and school breaks around the corner, many parents are turning to day camps to keep their children active and supervised. Under the updated 2026 tax laws—specifically the provisions from the One Big Beautiful Bill (OBBBA)—those camp expenses could lead to a significantly higher tax credit than in previous years.
Got Tax Refund Blues? 4 Tips to Make This Year Better
Surprised by a small or non-existent 2026 tax refund? You’re not alone. While the media often focuses on last-minute savings, the real headlines this year are about the One Big Beautiful Bill (OBBBA). This massive piece of legislation has fundamentally shifted how deductions work, leaving many taxpayers wondering where their expected “windfall” went.
How IRS Tax Debt Affects Your Passport Under the FAST Act
Under the Fixing America’s Surface Transportation (FAST) Act, the IRS has the authority to certify individuals with “seriously delinquent tax debts” to the State Department. This certification can lead to the denial of a passport application or renewal and, in some cases, the revocation of an existing passport.
Navigating the June 15 Deadline for Americans Abroad
If you live or work outside the United States, your tax obligations remain largely the same as those of U.S. citizens, including for dual citizens. However, the IRS recognizes the unique challenges of filing from overseas by granting an automatic two-month extension. For the 2026 tax season, your federal income tax return and any tax due must be submitted by June 15, 2026.
What To Do if You Missed the Tax Deadline
If you missed the April 15, 2026, filing deadline, the most important step is to file as soon as possible. Whether you owe the IRS or are expecting a refund, delaying your return increases the risk of penalties and lost credits under the new 2026 tax laws.
More Entities Gain Access to IRS Business Tax Account
The IRS has announced an expansion of its Business Tax Account (BTA), making the self-service platform available to partnerships, tax-exempt organizations, federal, state, and local governments, and Indian tribal governments.
Plan Carefully to Minimize Taxes on Your Inheritance
Getting a large inheritance can create new financial opportunities. But it’s important to handle inherited assets carefully, especially when it comes to taxes and planning. Understanding relevant tax rules can help you avoid surprises and make informed decisions.