04/09/2019
All US taxpayers living overseas have to file a federal income tax return each year if they earn over $10,000, or just $400 of self-employment income, regardless of where they live or where their income is generated. They may also have to pay US income tax on their foreign earned income, depending on their circumstances. […]
09/05/2020
Our Bright!Tax IRS Insights series lifts up the hood to reveal the inner workings of the IRS engine. Today we’ll be looking at the best strategies for responding to an IRS audit letter. As described in our previous IRS Insights article, the IRS can access a vast amount of information about US taxpayers living abroad, […]
02/24/2024
Hidden deep within the proposed 2016 Federal Budget is a clause that seeks to bring some relief to so-called Accidental Americans. Accidental Americans are people who don’t know that they are American citizens, or who didn’t know before adulthood. They typically fall into one of two groups: people who were born in the US to […]
09/05/2020
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 […]
08/10/2020
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 […]