04/15/2021
All American citizens, including those living abroad, are required to file a US federal tax return every year reporting their worldwide income. Neither international tax treaties, nor any foreign tax filing requirement, mitigate the requirement for American expats to file a US federal tax return. To avoid double taxation, expats can claim provisions such as […]
04/12/2021
One of the long-term legacies of the Covid pandemic is forecast to be a widespread transition to remote working. Combined with a pent-up appetite for international travel, this is likely to mean that the next couple of years will bring a surge of interest in working remotely from abroad. Whether pursuing a dream to live […]
04/08/2021
Americans living abroad have to file US taxes, reporting all of their worldwide income, regardless where in the world they are or where their income originates or is paid. Many expats struggle to understand this requirement, especially seeing as most other countries only tax residents and income accrued in the country. The US tax system […]
04/05/2021
04/05/2021
The US taxes all American citizens on their worldwide income, including Americans living abroad. For American expats, this requirement to file from overseas can create significant headaches. These include, for many expats: currency conversions, having to file foreign and US taxes and so risking double taxation, and difficulties accessing local banking and other financial services […]
03/30/2021
All Americans are required to file US taxes every year reporting their worldwide income, whether they live in the US or abroad. Thankfully, there are several exemptions, such as the Foreign Earned Income Exclusion, that expats can claim when they file that allow them reduce or entirely eliminate entirely their US tax liability. What about […]
03/29/2021
2021 is set to be another year of change in US taxes, with the Coronavirus pandemic still affecting both government and citizens, and the new administration planning significant law changes. The IRS is investing in a year-long revamp of its IT systems, including Medicare and FATCA (more about FATCA later), as well. In this article, we […]
03/25/2021
On March 17, the Treasury and the IRS announced that the 2021 federal income tax return filing deadline for individuals was being moved back to May 17 for filing 2020 taxes. The new due date is May 17 rather than May 15 because May 15 falls on a Saturday this year. The extension also applies […]
03/22/2021
The US tax system requires that all American citizens file Form 1040 every year, reporting their global income. This applied to American citizens (and Green Card holders) living abroad as well as those living in the US. As well as reporting their global income on Form 1040, converting income received in other currencies into US […]
03/18/2021
Over the last few years, lots has been written about moving to Puerto Rico as a tax haven. Around 2,000 Americans are known to have moved to Puerto Rico for this reason to reduce their US tax bill. The only reason more haven’t joined them is that to take advantage of the tax breaks Puerto […]