07/30/2018
US expats are required to file US taxes, just like Americans living stateside. This is because America taxes based on citizenship, rather than on residence the way most countries do. Thankfully, the IRS has made several exemptions available that reduce or for most expats eliminate their US tax liability. The most common and effective of […]
07/26/2018
When American expats discover that they are required to file US taxes from abroad, the idea that they should have to file two tax returns, in the country where they reside as well as to the IRS, seems incredible. The US tax system has been this way since the Civil War though, requiring all Americans […]
07/05/2018
When campaigning, Donald Trump promised not just to lower taxes, but also to simplify the tax filing process. Last week, the IRS released the draft of a new form 1040 for consultation over the summer, with the final version due to be confirmed in the Autumn. In this article we look at what the changes […]
07/02/2018
Although Form 3520 can be complex, we have plenty of experience with it as a tax firm specializing in US expat taxes. Below, we’ll walk you through who must file Form 3520, how to do so, where to send it, and more.
05/28/2018
If you’re an American citizen or green card holder, you’re required to file US taxes wherever in the world you live, reporting your worldwide income. The US is almost the only country in the world that requires all of its citizens to file even if they live abroad. This means that US expats often have […]
01/11/2018
Americans who live abroad are still required to file a US tax return, reporting their worldwide income. Expats can claim the Foreign Earned Income Exclusion and/or the Foreign Housing Exclusion however, which allow them to pay less (or in many cases no) US tax (although they still have to file a US return to claim […]
12/04/2017
Over the last few years, millions of US expats have been asked by their foreign banks and investment firms to fill out IRS form W-9. Receiving form W-9 often causes surprise or alarm. While there’s no need to panic, there are a number of things that expats should know if they receive form W-9, to […]
11/02/2017
When you’ve settled in a foreign country and built a life there, the question of whether retaining your US citizenship is worthwhile may arise. This is due to the fact that the IRS taxes citizens and Green Card holders on their global income, which often results in filing daunting expat returns year after year. Moreover, […]
09/25/2017
Americans living abroad are still subject to US tax filing requirements on their worldwide income. There are also further US filing requirements just for expats, including having to report foreign bank and investment accounts if the expat’s combined balances exceed $10,000 at any time during the year, and reporting foreign financial assets on form 8938. […]
07/17/2017
IRS form 5472 is a US filing requirement that affects some Americans living abroad who own or part-own corporations. Form 5472 must be filed by US-registered corporations that are 25% or more owned by a foreigner, and foreign corporations that trade in the US, that make any ‘reportable transactions’ during the filing period. A ‘reportable […]