An Explanation of U.S. Taxes for English Teachers Abroad

Teaching English abroad is an opportunity to achieve both prolonged cultural immersion and professional advancement. It is an attractive option for many recent graduates as well as seasoned professionals looking for a responsible and cost-efficient way to travel. But like other American professionals abroad, English teachers aren’t free from their U.S. tax obligations. The American […]

How to Avoid Receiving the IRS Penalty Notice

Each year, the IRS sends out an approximate 50 million penalty notices. Of 100 million eligible taxpayers, statistically speaking, one out of every two taxpayers will receive a notice. The number of automated tax penalty assessments is also increasing every year, and the trend is very much true among small business, professionals, and expat taxpayers. […]

What Is the Difference Between Tax Forms 1040, 1040a, and 1040ez? (Updated for April 2019)

The IRS tax return form 1040 is a detailed IRS document that allows taxpayers to claim many deductions and credits. Other types of 1040 return are shorter and more manageable. Why should you complete a 1040 instead of a 1040-EZ? Because you could be missing deductions and credits that could lower your taxable income, which […]