Taxes for Expats – The US – Italy Tax Treaty

Taxes for Expats – The US – Italy Tax Treaty

The US – Italy tax treaty was first signed in 1984, then replaced in 1999, although it was only fully ratified in 2009. It covers how dividends and certain other types of income are treated, and allows tax information sharing between the two countries. The purpose of the treaty is to prevent double taxation for Americans living […]

Choosing an Expat Tax CPA – Everything You Need to Know

Choosing an Expat Tax CPA – Everything You Need to Know

Americans living abroad are still required to file a US tax return, reporting their worldwide income. This is true for expats who file foreign taxes too, and regardless of whether there’s a Tax Treaty between the US and the country of residence. Filing a US tax return as an expat from abroad is more complex […]

What’s New With US Expat Taxes in 2020?

What’s New With US Expat Taxes in 2020?

2019 was another year of innovation and expansion for Bright!Tax, as we continue to evolve to ensure that our clients find filing US taxes from overseas as easy and intuitive an experience as possible. So, what’s new with US taxes for expats in 2020? Deadlines and extensions IRS deadlines in 2020 are the same as […]

2020 FATCA News for US Expats

2020 FATCA News for US Expats

FATCA is the Foreign Account Tax Compliance Act, a 2010 US law that aimed to help prevent offshore tax evasion. The law has had many unintended consequences though, particularly for American expats all around the world. US tax rules for expats The American tax system is unusual in that it requires American expats to file […]

Filing FBARs Late – Delinquent FBAR Procedures for Expats

Filing FBARs Late – Delinquent FBAR Procedures for Expats

American expats are required to file US taxes, reporting their worldwide income, despite living abroad. When expats file, they can claim one (or in some cases multiple) IRS provisions to reduce their US tax bill, such as the Foreign Earned Income Exclusion and the Foreign Tax Credit. That also have to report their foreign business interests. […]

Guide to 2020 IRS Deadlines and Extensions for US Expats

Guide to 2020 IRS Deadlines and Extensions for US Expats

American expats have to file US taxes the same as Americans who live in the states, reporting their worldwide income. This is because the US taxes based on citizenship, not on residence like most other countries. Many US expats assume that a tax treaty, paying foreign taxes, or only earning abroad prevent them from having […]