US Tax News

US citizens and green card holders who earn over $10,000 (or $400 from self-employment) are obliged to file a federal income tax return wherever they live. If they are resident in another country, they have to file a return there too. In both cases, penalties can be harsh for not filing, so it’s important to […]

One – Know your responsibilities and filing dates If you’re a US citizen or green card holder earning over $10,000 a year (or $400 from self-employment), even if you’re living abroad, you have to declare your worldwide income, savings, and assets and you might need to pay taxes to Uncle Sam. Any tax due must […]

Since the FATCA law was passed in 2010, US expats are obliged to declare their foreign earnings and assets, along with their foreign bank accounts. So how should you set about choosing your expat tax preparer? Firstly, go with a specialist. Expat taxes can be convoluted sometimes, especially if there are several years’ worth to […]

Nina E. Olson, the IRS’s National Taxpayer Advocate, has slammed her employer in her latest report to congress for failing to adequately compensate American taxpayers living abroad for the closure of overseas tax assistance offices at a time when expat tax requirements are getting more burdensome and complex by the year. She also says that […]

Hidden deep within the proposed 2016 Federal Budget is a clause that seeks to bring some relief to so-called Accidental Americans. Accidental Americans are people who don’t know that they are American citizens, or who didn’t know before adulthood. They typically fall into one of two groups: people who were born in the US to […]

A lot has been written in the media about the effects that FATCA and FBAR requirements and the necessity of filing US taxes have had on expats, ranging from bewilderment and frustration at the extra paperwork and perceived government overreach, to individuals being denied opening or keeping local bank accounts, and individuals being unable to […]

Living abroad can and should be one of life’s great adventures, however for Americans federal tax requirements become more complex once you are living outside the US, and in some cases a lot more, depending on your particular situation. Alongside US federal obligations, Americans who are residents in another country will also probably have parallel […]

Working and living overseas is an adventure that few Americans get to enjoy. An estimated 6.3 million worked abroad in 2012 – many lived in exotic places, immersing themselves in a new culture often very different from that of the United States. But one obligation shared by U.S. citizens everywhere is the requirement to file […]

The end of the year is the perfect time to align your US expat tax strategies. It’s that time again, as we close out another year, to review some end of the year tax hacks that can still be used to save you money. As you may already know, many of the tax strategies you […]

Know your GAAPs from your FATCAs with our handy guide to some of the more commonly spotted IRS acronyms. IRS – Internal Revenue Service. You probably knew that one, but you probably didn’t know that the name was first used in 1918. It was previously known as the Bureau of Internal Revenue, and was established […]