03/12/2020
Over nine million Americans reside abroad, a greater number than the residents of all but ten US states. Due to a quirk in America’s tax system dating back to the Civil War, American expats are still subject to US income tax filing requirements on their worldwide income. US income tax filing from abroad is different […]
02/27/2020
The question is simple, the answer less so. As so often with tax questions, the devil is in the detail. The US introduced a citizenship based tax system during the Civil War, and it’s never been repealed. This means that the US taxes based on citizenship, so all US citizens have to pay US taxes […]
02/20/2020
The majority of Americans use tax software to file their US taxes. In the light of this, it’s strange that the IRS has been changing Form 1040 over the last couple of years, as very few people use it. Instead, the majority either employ a tax preparer, who uses software, or input their information into […]
02/10/2020
There are an estimated nine million Americans living overseas, and all of them who earn over $12,200 (in 2019, globally), or just $400 of self-employment income, are required to file a US federal tax return. When they file, expats have to file additional IRS forms to reduce their US tax bill, such as Form 2555 […]
01/27/2020
2020 US tax filing season has officially begun. As of today, the IRS is now accepting returns for the 2019 tax year. For Americans in the states, the 2020 filing deadline is Wednesday April 15th, and while expats receive an automatic 2 month extension until Monday June 15th, they still have to pay any tax […]
01/22/2020
(Contributed by Emmy Carson.) Tax season doesn’t come easy to the regular American — but even more so for American expats. With CNBC revealing that over 9 million U.S. citizens live overseas, these expats have to go through a lot of additional reporting and filing of documents that their domestic counterparts get to skip. This is […]
01/09/2020
Given the complicated nature of US expat taxes — with unique tax breaks, reporting requirements, and deadlines — many Americans abroad choose to hire a specialized expat tax professional. Those who have never worked with a professional specifically versed in taxes for Americans abroad often wonder how to choose a CPA who will be the […]
01/06/2020
2019 was another year of innovation and expansion for Bright!Tax, as we continue to evolve to ensure that our clients find filing US taxes from overseas as easy and intuitive an experience as possible. So, what’s new with US taxes for expats in 2020? Deadlines and extensions IRS deadlines in 2020 are the same as […]
01/02/2020
There are several routes to American citizenship, but the main one is that if you’re born in the US then you automatically become an American citizen. Some people are born in the US to foreign parents who may be there temporarily though, perhaps studying, on a temporary work assignment, or just on holiday. These families […]
12/30/2019
There are multiple situations in which the IRS levies tax penalties. Unfortunately, even innocent mistakes can come with hefty fines. Things like timely filing, accurate estimated tax payments, penalty relief, appeals, and the Streamlined Procedure can help you minimize penalties and interest. That said, it’s best to leave both strategy and execution to a tax professional.