Update: French Port Strike

The ongoing nationwide strikes in France are affecting all ports across the country impacting the shipping companies’ services.  Several containers are currently blocked at the ports, while many shipping companies have cancelled or postponed the berthing of their vessels.

Significant delays and additional charges are therefore to be expected for all shipments to or from French ports.  These events may result in additional costs such as port charges, demurrage, etc.

Unfortunately this situation is expected to continue for several more days and delays will be felt in the weeks to come.

U.S. Taxation of Americans Abroad: A Helpful Guide

If you are a citizen or resident of the United States who lives or works abroad, this comprehensive guide provided by KPMG is designed to help you understand your U.S. income tax obligations.  Please click on the link below- it’s definitely worth reading:

US Taxation of Americans Abroad

Source: KPMG

IRS Announces 2020 Mileage Reimbursement Rates

Today the IRS announced the 2020 mileage reimbursement rates. The business mileage rate has been lowered from $0.58/mile in 2019 to $0.575/mile in 2020. The final move deductible rate has also been lowered from $0.20/mile in 2019 to $0.17/mile in 2020.

Please keep in mind that final move mileage (along with shipment, storage, and final move costs) are taxable since January 1, 2018 with the exception of military moves and certain states. The charitable mileage rate remains unchanged at $0.14/mile. See all of the details here: IRS Notice 2020-05.