US Tax News

Americans living abroad are required to file a US tax return every year, reporting all of their global income. No other developed nation requires expats to file in this way. American expats often have to file a foreign return too, and understand how the two different tax systems converge. Furthermore, expats are subject to additional […]

The IRS has announced federal Tax Rates and Brackets, the Standard Deduction amounts, and the Foreign Earned Income Exclusion threshold for US expats for tax year 2021 (so for filing in 2022). The figures for tax year 2020, for filing in 2021, were announced a year ago. The 2021 figures may still change, however, if […]

American expatriate tax laws are unusual, in that they apply to all Americans citizens around the world, rather than just US residents. US expatriate tax laws can be divided into two categories: laws relating to tax filing and financial reporting requirements for Americans living abroad, and laws relating to Americans renouncing their US citizenship. US […]

This year, while the world has been preoccupied with the Coronavirus pandemic, the IRS has also been quietly increasing its focus on enforcement of Bitcoin and other Cryptocurrencies holders. The IRS sees virtual currencies as an area of potential tax avoidance. In 2019, for the first time in five years (during which time the profile […]

If you’re a non-US national who lives or works in the US part-time, or if you have US-source income, you may very well need to file a US nonresident alien (“NRA”) income tax return. Filing this return correctly and on time is essential — otherwise, you may face significant fines and penalties. The US tax […]

The US requires all American Citizens to file US taxes, reporting their global income, wherever in the world they live or receive income. Because many American expats have to file foreign taxes in another country too, the IRS has introduced some provisions that expats can claim when they file to avoid double taxation. The two […]

Americans living abroad who previously lived in California may still be liable to pay California state income taxes. California is among the states with the most stringent income tax regimes, and similarly to the Hotel California lyric, you can check out any time you like, (yet when it comes to taxes), it can be hard […]

Republicans Overseas, a political organization representing the interests of Americans living abroad, has hand-delivered a letter to White House Chief of Staff Mark Meadows requesting that the President alleviate aspects of expat taxation by Executive Order. Republicans Overseas was founded in 2014 with one of its express aims being repealing the 2010 Foreign Account Tax […]

When most people think about income taxes, they think of the taxes automatically withheld from their paycheck — or, if they’re self-employed, the quarterly tax estimates they pay. But, what about taxes on unearned income? Unearned income — also known as passive income — refers to the income you don’t actively work for. This can […]

Millions of Americans live and work abroad. They may have been posted abroad by a US firm or the US government, they may have moved abroad and found employment with a foreign firm, or they may be self-employed or own and run their own business. In every situation though, Americans working abroad are required to file […]