02/05/2016
If you are a US citizen, or a Green Card, holder, and your worldwide income is over around $12 thousand a year (or $400 if you are self employed, or just $5 if you’re married to a foreigner but file separately), then the answer is yes, you need to file a US Federal Income Tax […]
02/05/2016
Big Data and an ever aggressive approach by the IRS toward ferreting out Americans living abroad who are not current with their US tax filing has, so far, not yielded the results that the US government hoped for. With a tax system that is based largely upon voluntary compliance, the United States wields a big […]
02/05/2016
If you live and work abroad you probably know about the Foreign Earned Income Exclusion that can allow you to collect tax-free money. If you qualify, the foreign earned income exclusion can make up for some of them. But some people think they qualify and then do not. In James F. Daly and Candace H. […]
02/05/2016
Robert W. Wood – The number of Americans renouncing United States citizenship or terminating long-term residency is on a record pace. Every 3 months, the government publishes the names of individuals who renounced U.S. citizenship or gave up a green card. This public outing puts Americans on notice who relinquished their rights. For January to […]
02/05/2016
As they crisscross the globe, IRS rules require expat American pilots to record exactly how long they’re flying over the U.S., foreign countries and international waters. Once they land, the pilots have to track exactly when they’re working, and when they’re off the clock. Here’s why: If they ever face an IRS audit, the pilots […]
02/05/2016
In the 102 years since the US first introduced income tax, the tax code has ‘blossomed’ from 400 pages to … 75,000. It was during the Second World War that the code first really ballooned, from 504 pages in 1939 to 8,200 in 1945. This was attributed to the complexity of funding the war effort. […]
02/05/2016
Find The IRS Before They Find You. This is the last US tax filing season for American expats to become current with the IRS before new laws come into play that will reveal your identity, location and foreign accounts to the US government. Now is the last best chance for Americans living abroad to become […]
02/04/2016
Had enough of filing and paying US income taxes? Have you thought about moving beyond all the hassle and yearly effort just to remain compliant with US taxes and regulations by giving up your US citizenship? The idea, though perhaps well founded, now requires even more careful consideration than ever before. The new and pending Ex-PATRIOT Act […]
02/04/2016
It’s as simple as a punchlist, really. If you are able to gather the following documents then you’re well on your way to way to getting your taxes done both easily and accurately. The list is as follows – A copy of last year’s tax return Social Security Numbers for yourself and your spouse if […]
02/04/2016
We suggest the most relevant approach to this question is to weigh the potential outcomes as a result of your situation – and usually there are two Option One – You choose to continue not filing your US taxes. This is both risky and, by US law, it is a criminal offense. The potential outcome to […]