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PFIC Edge Cases: What Most Form 8621 Calculations Miss

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC,

Form 8621 Filing Exceptions: Every One, and Where Each Stops

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC,

Fund Mergers, Splits and Spin-Offs: PFIC Events That Don’t Look Like Sales

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC,

Wash Sales and PFIC Shares: The Loss and Holding Period That Move

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC.

PFIC Currency Translation: Spot Rates, Fund-Currency Math and Pence

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC.

PFIC Losses: Why a Loss on One Block Doesn’t Offset a Gain on Another

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC.

The PFIC Interest Charge: Daily Allocation, Top Rates, Daily Compounding

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC,

The PFIC 125% Test, Block by Block

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC

ISIN, Listing or Charter: What Makes a Fund Foreign for PFIC Purposes

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far, so I’ll skip the basics. You know

PFIC Lot Tracking: Why Every Purchase Is Its Own Calculation

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know the fund is a PFIC.

Tainted and Clean PFIC Lots: One Fund, Two Tax Treatments

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far. You know your fund is a PFIC,

The PFIC Start-Up Exception: When a New Fund’s First Year Doesn’t Count

By Edward Parsons, CPA · licensed since 2009 Key takeaways You got this far, so I’ll skip the basics. You know

Which Tax Software Supports Form 8621? The DIY Programs Compared

By Edward Parsons, CPA · licensed since 2009 Key takeaways People ask me which tax software to use for Form 8621,

Expat Tax Software and Form 8621: Expatfile, MyExpatTaxes and H&R Block Expat

By Edward Parsons, CPA · licensed since 2009 Key takeaways Living abroad changes which funds you can buy. The bank down

Cash App Taxes and Form 8621: Why “Small” Doesn’t Mean Simple

By Edward Parsons, CPA · licensed since 2009 Key takeaways Free tax software is built for straightforward returns, and most of

Pick Your Category

Form 2555 vs Form 1116 for Americans Living in Colombia

For Americans living in Colombia, choosing between Form 2555 (the Foreign Earned Income Exclusion) and Form 1116

Your Colombian Company and Form 5471: A CPA Review for U.S. Owners

If you already own a Colombian company and you have been filing Form 5471, the real question

Starting a Colombian S.A.S. as a U.S. Citizen: Form 5471 and CFC Rules

If you are a U.S. citizen and you open a Colombian S.A.S., the IRS almost always treats

Buying Property in Colombia: U.S. Tax Issues for Citizens and Residents

Buying a home or apartment in Colombia is not, by itself, a U.S. taxable event, and real

Colombian Gifts and Inheritances: Form 3520 Reporting for U.S. Persons

If you are a U.S. person and you inherit money or receive a large gift from family

Colombian Investment Funds and PFIC Reporting for U.S. Citizens

If you are a U.S. citizen holding a Colombian investment fund, the IRS almost certainly treats it

Colombian Pension and Cesantias Accounts: U.S. Tax Reporting

Colombian cesantias and private pension accounts are usually foreign financial accounts in the eyes of the IRS,

Opening Bank Accounts in Colombia: FBAR and Form 8938 for U.S. Citizens

A U.S. citizen with a Colombian bank account usually has two separate reporting duties. The FBAR (FinCEN

Living in Colombia and Behind on U.S. Taxes? Streamlined Filing Explained

If you live in Colombia and have fallen behind on U.S. taxes, the IRS Streamlined Filing Compliance

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