IRS Streamlined Procedure For Expats

The IRS Streamlined Procedure was introduced in its current form in mid-2014. As the IRS stepped up its enforcement of America’s citizenship-based taxation system, which requires all US citizens (and green card holders) to file US taxes on their worldwide income wherever in the world they live, it also realized that it needed a way […]

There are around 9 million Americans living oversees, and the IRS has its sights set on those expats who aren’t up to date with their US tax filing. All American citizens and green card holders are required to file a US tax return, however because the US is the only developed nation to tax its […]

There are lots of scare stories going around about the possible consequences for not filing US taxes as an expat. You may have heard for example about US passports being revoked, sizable FBAR penalties, and banks closing expats’ accounts because of FATCA. So if you’re an expat who’s behind with their US tax filing, you […]

For decades, US expats lived in peace, beyond the reach of the American tax system, despite being theoretically obligated to file US taxes on their worldwide income from abroad by American’s citizenship based taxation regime. Then came FATCA, the 2010 Foreign Account Tax Compliance Act. Designed to address tax evasion in the wake of the […]

Due to the US’ citizenship based taxation system, all Americans are required to file a US tax return and declare their worldwide income if they earn over around $10,000 (or just $400 of self-employment income) – including Americans living abroad. Many American expats aren’t aware of this requirement to file US taxes from overseas though, […]

The Streamlined Procedure and the OVDP (Offshore Voluntary Disclosure Program) are both IRS amnesty programs that allow American taxpayers who are behind with their US tax filing to catch up. They are very different though, and once you have filed using one, you can’t change your mind and use the other, and using the wrong […]

America is unique among advanced economies in having a taxation system based on citizenship rather than on residence. This means that all US citizens (and green holders) have to file a US tax return and pay US taxes on their worldwide income wherever in the world they live. To many people this seems counter-intuitive, unfair […]

Of the estimated 9 million Americans living overseas, just 1.1 million of them filed a US tax return last year. As the US taxes based on citizenship, whether Americans live in the US or abroad doesn’t matter: if your income exceeds around $10,000 (or just $400 of self-employment income), you are required to file a […]

All Americans who earn over around $10,000 (or just $400 of self-employment income are required to file a US federal tax return each year, no matter where in the world they live or where their income was sourced. This means that the majority of US expats still have to file a US tax return when […]

The IRS re-introduced the Streamlined Procedure amnesty program in 2014 to help the millions of Americans living abroad who weren’t currently up to date with their US tax filing catch up without facing penalties. All US expats are required to file a federal tax return each year declaring their worldwide income, regardless of where in […]