Tax Rules and Compliance

You didn’t skip filing your FBAR on purpose. You just didn’t know you had to. Welcome to the club. The FBAR (that’s the Report of Foreign Bank and Financial Accounts) is one of the most commonly missed filings among U.S. expats. It’s not part of your tax return. It’s not about owing more money. But […]

If you’ve ever opened a bank account overseas and been hit with a million questions about your U.S. citizenship, you’ve met FATCA—whether you knew it or not. Short for the Foreign Account Tax Compliance Act, FATCA was born in 2010 when the U.S. government decided it really, really didn’t want to miss out on taxes […]

Here’s a fun fact no one tells you before moving abroad: you might end up paying into two social security systems at once—your host country and the U.S. Talk about double the paperwork, none of the fun. That’s where totalization agreements (a.k.a. international Social Security agreements) come in. These bilateral deals coordinate the U.S. system […]

Leaving the country? The Internal Revenue Service hopes you’re enjoying the view—because they’re coming with you. As far as the U.S. tax code is concerned, moving abroad doesn’t mean you’ve escaped your obligations. In fact, it may mean you’ve got more to keep track of. Citizenship, not location, is what ties you to the U.S. […]

Living abroad may change your view, your routine, and your favorite snacks—but not your tax obligations. As long as you’re a U.S. citizen or green card holder, the IRS still expects you to file—no matter where in the world you live or work. That includes digital nomads, retirees, self-employed entrepreneurs, and remote employees. The problem? […]

Just found out about PFICs and feeling a little panicked? You’re not alone. Many U.S. expats with foreign investments don’t realize they own a Passive Foreign Investment Company until they’re knee-deep in tax forms—or worse, facing unexpected tax bills. The IRS classifies many foreign mutual funds, ETFs, and investment funds as PFICs, and unfortunately, they come with some of the most […]

So you’ve moved abroad—traded in your U.S. zip code for a new country, a new life, maybe even a better coffee. But one thing you didn’t leave behind? The IRS. U.S. citizens are taxed on their worldwide income, no matter where they live. The good news: Uncle Sam does throw expats a couple of lifelines. […]

Sometimes, the only thing more overwhelming than realizing you forgot to file something is figuring out how to fix it without making it worse. If you’ve left foreign bank accounts off your FBAR (Report of Foreign Bank and Financial Accounts), but all your foreign income was already reported on your U.S. tax return, the IRS […]

So, you’ve just discovered you were supposed to file a Foreign Bank Account Report (FBAR), maybe a Form 8938, and include that income from your old investment in the Cayman Islands. Whoops. Deep breaths—you’re not the first (and definitely not the last) U.S. taxpayer to miss the fine print on international tax reporting. That’s where […]

If you’re a U.S. taxpayer living stateside with unreported foreign accounts or income, the words “offshore compliance” probably don’t inspire joy. But here’s the good news: the Internal Revenue Service (IRS) knows mistakes happen—and they’ve created a pathway to help you fix them (before things get expensive). It’s called the Streamlined Domestic Offshore Procedures (SDOP), […]