02/06/2026
If you’ve ever wondered whether you need to file FBAR, Form 8938, or both, you’re not alone. It’s one of the great rites of passage for U.S. expats: realizing that the IRS and FinCEN both want a peek at your foreign accounts—but through entirely different lenses. Both forms exist to catch unreported foreign financial assets, […]
01/30/2026
Renouncing U.S. citizenship is a big step—whether you’re making a fresh start in a foreign country, simplifying your federal tax obligations, or just ready to cut through the paperwork that comes with holding a U.S. passport. But before you go, there’s one last thing to consider: the U.S. exit tax. Designed to tax unrealized gains, the exit […]
01/29/2026
Recognizing the unique sacrifices made by those serving, Congress originally enacted the CZTE back in 1918 as a way to show appreciation and provide tangible support. It’s been a cornerstone of military tax benefits for decades, evolving over time to adapt to changing circumstances. The CZTE is a lifeline for many service members. With the pressures of deployment, from separation from loved ones to the inherent risks of the job, having a tax break offers some ease when it comes to financial burdens.
01/28/2026
Moving to Canada sounds like a dream—until your first grocery run reminds you that avocados can be $2.49 each. In 2026, the cost of living in Canada remains high by global standards, and for Americans making the move, sticker shock is real. From housing to healthcare, utilities to university tuition, Canada’s expenses don’t always align […]
01/27/2026
When it comes to IRS penalties, the FBAR has a reputation for being one of the harshest. Miss it, and suddenly that “forgotten form” feels less like a slip-up and more like a five-figure headache. Here’s the deal: U.S. citizens, green card holders, and certain residents have to report foreign bank and financial accounts over […]
01/26/2026
Getting scammed is one of those experiences you hope will never happen—and yet, it happens to millions of Americans every year. Maybe it’s a too-good-to-be-true investment, a phone call pretending to be the IRS, or an online “friend” who wasn’t who they said they were. However it unfolds, the result is the same: money gone […]
02/06/2026
You took the leap, set up a business abroad, and now you’re living the dream—until tax season rolls around and you hear about Form 5471. Suddenly, the IRS wants details about your foreign corporation, and missing this form could mean steep penalties. If you’re a U.S. shareholder in a foreign business, there’s a good chance you need to file. […]
02/06/2026
The IRS has a very inclusive definition of a “U.S. person”—and it’s not just about citizenship. If you hold a green card, live abroad, have American parents, or even spend a certain number of days in the States, congratulations: you may be a U.S. person for tax purposes. That matters because U.S. persons are required […]
01/23/2026
Not long ago, going without health insurance didn’t just mean taking a risk—it also meant paying the IRS. Under the Affordable Care Act (ACA), taxpayers without full-year coverage faced the “shared responsibility payment,” unless they qualified for an exemption. That’s where Form 8965 came in. Filing the form allowed taxpayers to claim a health coverage […]
02/06/2026
It’s the world’s most surprising membership: “accidental Americans.” These are people who hold U.S. citizenship—sometimes without even realizing it—and suddenly find themselves caught up in a global game of tax tag. Maybe you were born during a family layover in New York, or you inherited American citizenship from a parent, even though you’ve spent your […]