Great job if you have already filed your 2024 U.S. Individual Tax Return! For most individual taxpayers, the tax filing and payment deadline is Tuesday, April 15, 2025. If you are a U.S. citizen or resident alien residing overseas, you are allowed an automatic 2-month extension until June 16, 2025 to file. If you need to file [...]
We are excited to announce that our Managing Director, Christopher Chang, was a featured speaker at the American Chamber of Commerce Hong Kong event on March 19th. This event offers valuable insights as we explore what to expect from the Trump administration for US taxpayers living abroad. Here are the key takeaways from the event: [...]
There are few experiences that can strike as much fear as receiving a notice from the IRS, but in most cases, a calm and methodical approach can allow most issues to be resolved efficiently. Here are several reasons why the IRS might reach out with a notice, and we have several suggestions on how to [...]
If you’re starting a business, hiring employees, or need to file certain tax returns, you may be required to obtain an Employer Identification Number (EIN) from the IRS. Here’s what you should know: What is EIN? An Employer Identification Number (EIN) is a unique nine-digit number issued by the IRS to identify a business for [...]
Tax filing can be a daunting task for an expatriate, but with the right support, you can fulfil your obligations with confidence. Below, we answer some of the most frequently asked questions about filing taxes while living abroad. Q: If I live abroad, do I still have to file U.S. taxes? A: U.S. citizens and green [...]
Tax laws and regulations are updated almost every year and staying informed is essential for making smart financial decisions. As a US taxpayer, understanding these changes helps us take advantage of new opportunities and avoid potential challenges. It can be overwhelming to keep track of everything, but don’t worry, we are here to help. Below, [...]
Overview of Expiring TCJA Provisions The Tax Cuts and Jobs Act (“TCJA”) introduced various tax cuts and simplifications that have benefited millions of Americans. However, many of these provisions are set to expire on December 31, 2025, which could lead to substantial tax increases for individuals and families. Key provisions at stake include: Marginal Tax [...]
For many U.S. Citizens, working in a foreign country can be an exciting opportunity to be exposed in a new environment. Yet with new opportunities, however, also comes with new risks, as many expats do not recognize that they have U.S. tax filing obligations. There are many nuances and complexities for U.S. tax laws, of [...]
At American Pacific Tax, our vision is to be the best service provider for Individual Taxpayers located in Hong Kong and Asia. Prospects and clients have asked us why they should choose American Pacific Tax as a service provider and here 5 reasons!!!!! 1. Expertise and Helpfulness Our firm has been established in Hong [...]
Beneficial ownership information reporting is a key initiative introduced by the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA), aimed at increasing transparency in corporate ownership and combating illicit financial activities. Background The Corporate Transparency Act, enacted in 2021, mandates that many entities doing business in the United States disclose information about [...]