12/15/2016
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 […]
12/05/2016
All Americans who earn over $10,000 (or just $400 of self-employment income) have to file a US tax return every year, wherever in the world they live or earn. Many Americans living abroad aren’t aware of this though, so they aren’t up to date with their tax filing. Thankfully, for American expats who haven’t filed […]
08/23/2016
US expat taxation and FBAR The US is the only developed nation that taxes based on citizenship rather than residence. This means that US citizens (and green card holders) who earn over $10,000 (or just $400 of self-employment income) are still liable to pay US taxes if they live abroad, including on any foreign earned […]
03/22/2016
Living abroad can be the adventure of a lifetime. It takes courage, perseverance, and an ability to adapt and hopefully thrive in a foreign land far away from home. In other words, the same attributes that we honor in the early American pioneers. Living abroad also brings with it an extra, burdensome set of tax […]
03/01/2016
US expats have been the unintentional victims of an IRS drive targeting offshore tax avoidance for several years now, however the penalties for non-disclosure of foreign income and assets remain harsh, and the IRS is showing no signs of easing off. There are thought to be millions of Americans living abroad who are behind with […]
02/08/2016
Until around a year ago, many honest, law-abiding US expats felt a real disincentive to file their historic tax returns as a result of pending and serious IRS penalties. Another large group of expats believed that as they didn’t owe taxes in the US, having paid higher tax rates abroad, they didn’t have to file […]
02/06/2016
You are an American citizen living abroad and you have just found out, through one source and then anothersource that you are required to file US income taxes every year. Who knew? You may feel overcome with an angst and a fear that life abroad – once blissful and so secure – is about to […]
02/05/2016
Expat Briefing – Major changes to the Internal Revenue Service’s offshore voluntary compliance program have been welcomed by American Citizens Abroad. The program is offered to overseas American citizens that have not deliberately failed to abide by their tax obligations. ACA said that the changes, effective from July 1, 2014, demonstrate that the IRS has […]
02/05/2016
The IRS has declared filing three years back taxes is adequate for most US expat tax filers who are delinquent and there shall be no penalties for late FBARs (Foreign Bank Account Reports) from those who were unaware of the requirement to file. This brings a clarity and welcome relief to many American expatriates who […]
02/05/2016
Big Data and an ever aggressive approach by the IRS toward ferreting out Americans living abroad who are not current with their US tax filing has, so far, not yielded the results that the US government hoped for. With a tax system that is based largely upon voluntary compliance, the United States wields a big […]