The Earned Income Tax Credit (EITC) is one of the most significant and impactful credits available to low- to moderate-income working individuals and families in the United States. It not only reduces the amount of tax owed but can also...
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For U.S. taxpayers with overseas financial interests, compliance doesn't stop at disclosing foreign bank accounts. IRS Form 8938—required under the Foreign Account Tax Compliance Act (FATCA)—is a critical reporting obligation for those with significant foreign financial assets. Unlike FinCEN Form...