The American tax season is here and independent taxation specialist Calvin Tong is back with some helpful information for U.S. citizens filing in 2018 — and some pointers to bear in mind when planning ahead for 2019. Tong, who is based in Tokyo, has assisted Lifelines with previous columns on taxation issues.
First up, there are some changes this year for Americans living in Japan to be aware of. Can you tell us about these?
In December 2017, the U.S. government passed the Tax Cuts and Jobs Act (TCJA). Most of its provisions start from tax year 2018. This means that while it affects what people do now and should be taken into account in any tax planning, it actually won't be a filing matter until the spring of 2019.