American Expat Tax News

While Americans living abroad have been required to file US taxes reporting their global income, since the Civil War, it is only the last few years that the US government has been able to enforce the requirement. Americans with foreign registered financial (i.e. bank or investment) accounts are also required to report them annually by […]

With the final October 15th US tax filing deadline now having passed, most US expats have already filed this year. For those who still haven’t though, in this article we take a look at the consequences of their not having filed, as well as the options they now have. Summary of rules and deadlines US […]

Following recent news that the IRS wrote to over 10,000 Americans (including expats) whom they believe hold Bitcoin or other virtual or cryptocurrency accounts informing them that they may owe tax, the IRS provided new guidance last week on how to report cryptocurrencies and in what circumstances they may be liable to taxation. Furthermore, the IRS […]

Expats often ask whether Americans are still required to pay Medicare Tax if they live abroad. In this article we delve deeper into some different scenarios where they may have to. General US tax rules for Americans living abroad The US requires all Americans to file US taxes every year, reporting their global income. This […]

All American citizens and Green Card holders are required to file a US federal tax return every year, reporting their global income, even if they live abroad. Americans may also have to report any foreign registered businesses, financial assets, and bank or investment accounts that they may have. Neither international tax treaties nor filing foreign […]

Following the recent revelations that hundreds of thousands of Accidental Americans around the world face having their bank accounts closed at the end of 2019, the IRS has announced a penalty and tax free path that will allow many of these individuals to renounce their US citizenship without paying any penalties, and so keep their […]

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 […]

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 […]

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. […]

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 […]