10/29/2020
The US tax system is based on citizenship, which means that American citizens living abroad are required to file US taxes every year, reporting their worldwide income. As American expats often have to file foreign taxes too (depending on the rules in the country where they live), they get longer to file, with expats’ tax […]
10/26/2020
It has been estimated that there are several thousand Americans living in Portugal. Living in Portugal is an wonderful experience for a number of reasons, including the friendly locals, the climate, the beaches, and the quality of life. Many Americans working remotely have chosen to take advantage of Portugal’s self-employment visa. As an American expatriate living in […]
10/22/2020
American expatriate tax laws are unusual, in that they apply to all Americans citizens around the world, rather than just US residents. US expatriate tax laws can be divided into two categories: laws relating to tax filing and financial reporting requirements for Americans living abroad, and laws relating to Americans renouncing their US citizenship. US […]
10/21/2020
Americans who haven’t filed their 2019 FBAR yet in 2020 have been granted an automatic filing extension until October 31st 2020. On Wednesday October 14th 2020, just a day before the regular FBAR filing deadline, the Financial Crimes Enforcement Network (FinCEN, to which FBARs are filed) announced an extension until December 31st 2020 by way of […]
10/19/2020
Americans living abroad are required to file US taxes, reporting their worldwide income. The US is one of only two countries (the other being Eritrea in Africa) that tax expats on their global income, as well as residents. American expats also have to report any foreign business interests they have, and sometimes their foreign financial […]
10/15/2020
With less than three weeks to go until the 2020 election, it’s time to take stock and have a look at the implications of the two outcomes for expats. It’s the strangest election year in living memory and perhaps ever, with the economy rocked by a global pandemic, social unrest across the country, and the […]
10/12/2020
Millions of Americans living abroad have been forced to work remotely this year. Some were already living abroad, others have found themselves stranded abroad, while others still moved abroad to sit out the pandemic. With countries including Barbados, Bermuda, Estonia and Georgia offering new and attractive remote working visas, and the global transition to remote […]
10/08/2020
US law requires all American citizens and Green Card holders to file US taxes and report their worldwide income, including those living abroad. This leaves many Americans living abroad at risk of double taxation (having to pay both US and foreign income tax in the country where they live) on the same income. The US […]
10/05/2020
The US – Sweden tax treaty was signed in 1994, with an additional protocol added in 2005 covering dividends. The purpose of the treaty is to prevent double taxation for Americans living in Sweden and Swedes living in the US, however it doesn’t prevent US citizens living in Sweden from having to file US taxes. US taxes for […]
10/01/2020
This year, while the world has been preoccupied with the Coronavirus pandemic, the IRS has also been quietly increasing its focus on enforcement of Bitcoin and other Cryptocurrencies holders. The IRS sees virtual currencies as an area of potential tax avoidance. In 2019, for the first time in five years (during which time the profile […]