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These are exciting times for Dubai and the UAE. With the entire business world’s attention soon to turn to the Emirates with the delayed Expo 2020 kicking off in October (and continuing all the way through to the end of March next year) it’s never been a better time to be a UAE business owner
The concierge service provides a one-stop shop to help maritime businesses interact with government departments.
British rail companies are on track for a potential export boom thanks to the UK-Australia trade deal.
How you import from and export to Mexico.
As more economies around the world open up and companies bring employees back to the office, global expansion plans that may have been put on hold last year are now taking shape. It can be challenging to know where to start, but here are some key factors to consider when expanding your operations into new countries.
US Expats: IRS announces expiration of unused ITINs
From 2016, US Individual Taxpayer Identification Numbers (ITINs) will expire if they are not used on a federal income tax return for five consecutive years.
The new policy is designed to ensure that anyone legitimately using an ITIN for tax purposes can continue to do so; however, inactive ITINs will expire regardless of when they were issued.
I have filed
I have not filed
Any ITIN will remain in effect as long as you continue to file US tax returns (this includes anyone issued an ITIN after January 1, 2013).
You will no longer face mandatory expiration of your ITIN and you will not need to reapply in 2018.
The IRS will begin deactivating unused ITINs in 2016, which should provide enough time to file a valid return.
Once an ITIN has expired, individuals will need to complete and file a Form W-7.
If you are a US expatriate based outside of the US, F&L’s Expatriate Tax Team are here to assist you with all the US and UK tax advice and compliance services that you require