09/05/2019
Confusion abounds around the topic of US citizens living abroad and taxes. In this article we’re going to clear up a few common misunderstandings and set the record straight. Do US citizens living abroad have to file US taxes? Yes. All US citizens, including those living abroad, who earn more than the Standard Deduction amount […]
09/02/2019
Following recent revelations that up to 40,000 Americans living in France are at risk of having their bank accounts closed at the end of this year, it transpires that US expats who haven’t provided their foreign bank with their social security number or ITIN (Individual Taxpayer Identification Number) around the world are faced with the same […]
08/12/2019
In August 2019 the IRS is writing to 10,000 Americans, including expats, who have held or sold Bitcoin or other cryptocurrency holdings over the last few years, informing them that they may owe tax on their holdings. All Americans are required to file a US tax return, including Americans living abroad, reporting their worldwide income. […]
08/01/2019
Last week the UK announced former mayor of London Boris Johnson as the country’s new Prime Minister. Few people know though that new UKPM Mr Johnson was until 2016 an American citizen, and that he renounced his US citizenship to avoid having to file US taxes. Mr Johnson was a US citizen by virtue of having […]
07/11/2019
The underlying principle of the US tax system is that US citizens and Green Card holders are required to file and report their worldwide income, whether they live in the US or abroad. This means that many expats have to file two tax returns, to Uncle Sam as well as in the country where they […]
07/08/2019
Because the US tax system is based on citizenship (rather than residence), expat American citizens (and Green Card holders) are required to file US taxes, just the same as if they were living in the States. When expats file, they can claim one or more IRS provisions (such as the Foreign Tax Credit on Form […]
06/20/2019
Americans living abroad are required to file US taxes, reporting their worldwide income. America is the only developed country that requires expats to file. Expats often also have to report their foreign bank accounts, investments, and businesses. For many years, the IRS couldn’t enforce these requirements, and many expats chose to ignore them, however over […]
06/17/2019
Americans living abroad are required to file US taxes, reporting their worldwide income. This is because (unlike most countries) the US taxes based on citizenship, meaning that where in the world you happen to be living doesn’t matter. Unfortunately, tax treaties don’t protect American expats from double taxation (i.e. from filing both US taxes and […]
06/13/2019
Americans move abroad for a variety of reasons, perhaps for work, to be with someone, or due to a sense of adventure, however hardly any of them are thinking much about filing US taxes when they move. The US requires all Americans to file though, reporting their worldwide income, even if they live abroad. It’s […]
06/06/2019
What do astronauts and American expats have in common? American expats and astronauts both need the ability, courage and conviction to not just venture out into the unknown, but to succeed and thrive there. Unfortunately, they also share an inability to escape the requirement to file US taxes. The US taxes based on citizenship, meaning […]