Turkey Proposes 20-Year Foreign Income Tax Exemption for New Residents
Turkey proposed a 20-year tax holiday on foreign-sourced income for new residents in April 2026. Key details of the proposal remain unconfirmed or unclear.
Nomad news
Neutralized, source-linked updates from nomad, tax, migration, and remote-work sources.
Trending now
98 items
FBAR Filing Requirement: The $10,000 Combined Foreign Account Balance Threshold
U.S. persons must file an FBAR if the combined value of all foreign financial accounts exceeded $10,000 at any point during the calendar year, even if no individual account crossed that threshold alone. The requirement applies to Americans living abroad who hold foreign bank or financial accounts.
US Self-Employment Tax and Schedule SE Requirements for Americans Living Abroad
US citizens and residents who are self-employed abroad may be required to file Schedule SE to calculate self-employment tax, even if their income tax liability is reduced to zero through exclusions or credits. This obligation applies to freelancers, consultants, and others earning business income while living outside the US.
IRS Schedule 1: Reporting Self-Employment and Freelance Income
IRS Schedule 1 is the tax form used to report additional income such as freelance earnings, gig work, and side income, and it attaches to Form 1040. Taxpayers with self-employment or non-wage income are typically required to complete this form.
US Tax Filing Deadline Missed: Penalties and Next Steps
Missing the US federal tax filing deadline has different consequences depending on whether a refund is owed or taxes are due. Unpaid federal income tax accrues penalties and interest the longer it remains outstanding, while those owed a refund face fewer immediate consequences.
New Zealand Tax Rates for Individuals and Businesses
New Zealand's tax system covers income, consumption, and property taxes for individual residents, self-employed persons, and registered businesses. The guide outlines applicable income tax rates and how both employees and companies are taxed.
IRS to Automatically Apply First-Time Abatement Waiver Starting 2026
Beginning in 2026, the IRS will automatically grant the First-Time Abatement waiver, removing the need for taxpayers to request relief from failure-to-pay and failure-to-deposit penalties. The waiver applies to eligible taxpayers who meet specific criteria and have no prior penalty history.
Private Vault Storage for Gold and Silver: Options in Switzerland, Singapore, Hong Kong, and New Zealand
Storing precious metals through banks is argued to expose holders to FBAR reporting requirements, KYC issues, bail-in risks, and withdrawal freezes. Private vaults, free ports, and airport economic zones in Switzerland, Singapore, Hong Kong, and New Zealand are presented as alternatives offering greater geographical and geopolitical diversification.
