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
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
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
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 […]