10/08/2018
The U.S. has a highly unusual tax system in that it’s based on citizenship rather than on residence. Almost every other country either taxes based on residence, so you only pay taxes in that country if you live there, or has a territorial tax system, meaning you only pay tax on income generated there. The […]
10/04/2018
If you’re about to sell (or are considering selling) a substantial amount in assets, the capital gains tax is likely top of mind. While capital gains taxes can be complex in general, Americans living abroad must take additional factors into account. Failing to weigh the tax implications before carrying out a sale can take a […]
09/20/2018
American expats are required to file US taxes, reporting their worldwide income, despite living abroad. It’s a strange requirement, as it means expats often have to file two tax returns, one to the IRS and another in the country where they live. Thankfully, the IRS has made available a number of exemptions that expats can […]
09/07/2018
Every US citizen or green card holder is liable to pay US taxes, regardless of whether they are citizens of another country too. This is also true of foreigners born in the US, and children of US citizens born abroad, all of whom are technically US citizens (assuming that they have never officially renounced their […]
09/06/2018
American expats are unfortunate in having to continue filing US taxes from abroad, often as well as filing a tax return in the country where they reside. Filing US taxes from abroad is more complex than filing from within the US though. For example, there are normally more forms to file, and there are also […]
08/16/2018
Americans living abroad are required to file a US federal tax return every year, reporting their worldwide income, the same as if they lived in the States. The US is the only developed country that requires expats to file this way, and it is also the only country able to police the requirement, as it […]
07/23/2018
Around 9 million Americans live abroad. Many have military, diplomatic, or humanitarian roles, or are retired, but the majority are simply living and working overseas. Some have settled abroad permanently, others are on a temporary assignment overseas, however all US expats working expats need to know whether they are required to pay US tax on […]
07/12/2018
announced that it is set to deny new passports to over 362,000 Americans whom it believes owe over $51,000 in unpaid US taxes, including interest and penalties. The ability to deny passports for unpaid taxes was made possible under a 2015 law called Fixing America’s Surface Transportation Act. Under the Act, the IRS passes names […]
06/04/2018
Unlike other nationalities, American expats find themselves in an unfortunate situation of having to file a US tax return from abroad declaring their worldwide income every year, often as well as filing a tax return in their host country. To avoid double taxation, the IRS has made available a number of exemptions, such as the […]
05/14/2018
Book, containing information about all US tax returns filed and taxes paid in 2017. Sifting through the data, one statistic stands out for expats in particular: international US taxpayers are much more likely to be audited compared to Americans living in the States. The figures are stark: overall, around 0.5% of tax returns were audited. […]