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Archive by Month: February 2023

5 Common Tax Mistakes to Avoid (or Correct) in 2023

Articles/News, Offshore Account Update

Posted in on February 28, 2023

Tax mistakes are common. But that does not make them okay. Taxpayers who make mistakes can face audits, interest and penalties, and these can all substantially increase the cost of federal income tax compliance.

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Common International Tax Issues for New Jersey Residents Working Abroad

Articles/News, Offshore Account Update

Posted in on February 17, 2023

If you are a New Jersey resident but you spend time working abroad, it is important to make sure you have a clear understanding of your obligations to the Internal Revenue Service (IRS). While U.S. citizens working abroad can exclude foreign-earned income from their taxable income in some circumstances, reporting and payment violations are common—and these violations can trigger IRS audits and steep penalties.

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