01/16/2025
Millions of Americans living abroad face the burden of citizenship-based taxation (CBT), which requires them to file and often pay taxes on their worldwide income regardless of residency. The US is one of only two countries with such a system. Now, a proposed residence-based taxation (RBT) bill is sparking hope and debate among expats. What […]
07/27/2023
In today’s increasingly interconnected digital world, it’s natural to wonder if filing taxes online is safe for US expats. When we think about filing our taxes online, we seek efficiency, accuracy, and, most importantly, trustworthiness. However, recent developments have shown that not all tax preparation firms handle your sensitive data with the same degree of […]
03/01/2023
Is it your dream to marvel at Santorini’s whitewashed homes and blue seas, hike in the Swiss Alps, or savor the creamy taste of genuine Florentine gelato? We’re sure it is. But 2025 will bring a key change for Americans seeking a European escape: the ETIAS visa waiver. While American citizens have not previously needed […]
02/25/2023
With the 2025 tax year just around the corner, changes to the US tax code are on the way. Some updates, income tax bracket adjustments, are pertinent to all Americans. However, several — like the Foreign Earned Income Exclusion (FEIE) threshold increase — are particularly relevant for expats. While it’s important to stay on top […]
01/30/2023
Every year, the IRS publishes an Annual Report. This report functions as a report card of sorts, dutifully noting its accomplishments and challenges. In 2022, the IRS collected over $4.9 trillion in gross revenue to fund much of the federal government. These funds go to supporting federal infrastructures, including our national parks, air traffic control, […]
01/21/2023
On December 30th, 2022, the IRS made an announcement concerning a delay in the temporary US Taxpayer Identification Number (TIN) requirement associated with the Foreign Account Tax Compliance Act, commonly referred to as FATCA. This announcement principally concerns a group called “accidental Americans.” Accidental Americans are Americans who have spent little to no time living […]
09/13/2022
Access to higher education in the US isn’t cheap. According to recent data, over 45 million Americans have student loan debt, which adds to nearly $1.75 trillion in total debt across the country. In an effort to reduce Americans’ financial burden (especially as the US is still experiencing high inflation), the Biden administration announced its […]
08/31/2022
Inflation feels like an inescapable topic of discussion recently. In response, lawmakers have championed a new law called the Inflation Reduction Act aimed at not only addressing inflation but also touching on areas such as healthcare, climate, etc. One portion of the bill, in particular, has sparked a flurry of concern, however – specifically how […]
08/25/2022
It’s not often the IRS offers taxpayers a break. Since COVID, however, the IRS has rolled out a series of relief initiatives, including extended filing deadlines and stimulus payments. Wednesday, August 24th, the IRS announced the latest round of updates – focused on penalty relief for filers of 2019 & 2020 US tax returns, as […]
08/05/2022
Last updated on January 26, 2023 If you work as a freelancer, independent contractor, gig worker, or are otherwise self-employed, the phrase “1099 form” is almost certainly familiar to you. That’s because any client from whom you’ve received at least $600 is obligated to send you a 1099-NEC, a tax form that is used to […]