09/13/2018
The Offshore Voluntary Disclosure Program, or OVDP, was launched in 2009 to allow Americans who weren’t compliant with their US tax obligations to come forward, pay any US tax they owed, and gain immunity from prosecution. To date, some 56,000 taxpayers have used the program, with numbers peaking at 18,000 in 2011. In 2017, just […]
08/27/2018
American expats sometimes become so engrossed in the incredible experience of living abroad that they forget to fulfill their US tax filing obligations. Many expats aren’t even aware that they are required to file US taxes from abroad, reporting their worldwide income, often as well as having to file a tax return in the country […]
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 […]
06/28/2018
US taxes reporting their worldwide income. Perhaps counterintuitively, this includes Americans living abroad, assuming that they are either a US citizen or green card holder and that their income level meets the minimum threshold ($10,000 a year, or just $400 of self-employment income). Since 2016, when FATCA (the 2010 Foreign Account Tax Compliance Act) came […]
05/24/2018
US citizens are required to report their worldwide income to the IRS by filing a federal tax return each year, regardless of whether they live in the US or abroad, whether they are paying foreign taxes or not, or whether they live in a country which has a tax treaty with the US or not. […]
04/05/2018
It may leave many US citizens living overseas scratching their heads, but US expats are required to file an annual federal US tax return, reporting their worldwide income, despite living abroad, if they earn over $10,000 a year, or just $400 of self-employment income. When they file, expats can claim one or more exclusions such […]
03/01/2018
American expats are required to files US taxes, reporting their worldwide income. Many assume though that once you don’t live in the US (or have any income there), you don’t have to file a federal tax return any more. This can prove a costly assumption! While the US has tax treaties with a around 100 […]
01/22/2018
It’s tax time again, and many expats are discovering for the first time that Americans living abroad have to file a US tax return too, just as if they were living Stateside, reporting their worldwide income. Americans who have been living abroad but haven’t been filing need to catch up to avoid possible penalties. Most […]
11/27/2017
American expats are still required to file a US federal tax return to the IRS. As expats also have to comply with the tax rules in the country where they live, it’s counterintuitive but nonetheless important that they file US taxes too. Taxing US citizens abroad, or Citizenship (rather than Residence) Based Taxation, dates […]
10/30/2017
Living abroad is an incredible adventure that inevitably broadens our horizons and minds, thanks to the perspective we gain from living in a foreign country and experiencing a new culture. American expats still have to file US taxes however, as well as comply with the tax rules in their host country. This is because […]