No images? Click here December 2020 Tax NewsletterTax Issues for End of the YearHappy New Year to all! A prayer and a wish for a healthier new year!Congress approve new stimulus. More on this next month but read about it here.(https://www.cnbc.com/2020/12/29/600-stimulus-checks-are-on-the-way-heres-who-will-get-them-first.html?__source=newsletter%7Cyourwealth)2020 End-of-year Tax Issues
U.S. Expats with Foreign Bank AccountsFATCA, passed in 2010, has caused many U.S. expats headaches leading to renunciation of their American Citizenship. However, a recent article of how bankers will start acting on American citizens and their bank accounts. Expats should also be aware that this issue may not only be a Belgian bank issue but throughout the E.U. and possibly globally. Accidental Americans should be very aware of these requirements on how their banks may treat them as "foreigners" and not as a local citizen. This article published by PWC, "Update – American Belgians risk losing their Belgian bank account", is essential reading for most expat Americans. Donations before December 31Keep in mind that for your 2020 tax return you will be able to obtain a charitable contribution credit of $300. This was provided in the CARES Act. You still have a few more months to make that contribution to your favorite charities. Read more information here Tax consultationPlease contact us if you wish to arrange for a time to speak concerning your tax situation. We can conduct telephone, video, or in-person (Brussels) consultations. Appointments can be made here. Or you can contact us by email with any questions or concerns for this tax season. Check website for more information ... www.mirtaxes.com Convert currency & save money!Convert your currency wisely, efficiently, and economically by opening an account with MoneyCorp for free today! MoneyCorp can help both private and corporate clients, with a few payments that includes:
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