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Tax Glossary
What Is “Form 1116”?
Form 1116 is an IRS tax form used by individual U.S. taxpayers, estates, and trusts to calculate and claim the...
Tax Glossary
What Is “ Form 1099-SA ”?
Form 1099-SA is an informational IRS tax form sent to you by your health account bank or custodian to report...
Tax Glossary
What Is “Foreign tax home”?
A foreign tax home is the general geographic area outside the United States where you regularly work, conduct business, or...
Tax Glossary
What Is “Foreign tax deduction”?
The foreign tax deduction is a U.S. tax provision that allows taxpayers to deduct foreign income taxes paid to a...
Tax Glossary
What Is “Foreign pension”?
A foreign pension is a retirement savings plan or pension scheme established outside the United States by a foreign employer,...
Tax Glossary
What Is “Foreign housing deduction”?
The foreign housing deduction is a U.S. tax provision that allows self-employed citizens and resident aliens living abroad to deduct...
Tax Glossary
What Is “Foreign financial account”?
A foreign financial account is a broad category of financial accounts—including bank accounts, investment portfolios, mutual funds, and pension plans—that...
Tax Glossary
What Is “Foreign bank account”?
A foreign bank account is any financial account—such as a checking, savings, or certificate of deposit (CD) account—that is maintained...
Tax Glossary
What Is “FinCEN Form 114”?
FinCEN Form 114 is the official electronic document used by U.S. persons to report financial accounts held outside the United...
Tax Glossary
What Is “FEIE”?
FEIE stands for the Foreign Earned Income Exclusion. It is a powerful U.S. tax provision that allows citizens and resident...