US Tax Tips For Americans Who Retire in Japan

US Tax Tips For Americans Who Retire in Japan

The US recently released data on the foreign countries where the most Americans who claim US social security checks live that showed that Japan is, in some ways surprisingly, the second most popular retirement destination for Americans abroad after Canada (and above Mexico). This is partly due to the large number of Americans who spend time in […]

New 2019 IRS Bitcoin Cryptocurrency Reporting Update

New 2019 IRS Bitcoin Cryptocurrency Reporting Update

In August 2019 the IRS is writing to 10,000 Americans, including expats, who have held or sold Bitcoin or other cryptocurrency holdings over the last few years, informing them that they may owe tax on their holdings. All Americans are required to file a US tax return, including Americans living abroad, reporting their worldwide income. […]

Breaking News: IRS Updates Form 1040 for 2019

Breaking News: IRS Updates Form 1040 for 2019

The IRS has released a new draft Form 1040 for 2019 tax year (filing in 2020). While the new form is still in a public consultation phase, it’s notably different from the current Form 1040, which itself was only introduced just in time for the 2018 tax year and was a big departure from the […]

FATCA Bank Account Closure Threat for US Expats in France

FATCA Bank Account Closure Threat for US Expats in France

American expats living in France, like all Americans around the world, are required to file US taxes, reporting their global income. When they file they can claim one or more IRS measures such as the Foreign Tax Credit and the Foreign Earned Income Exclusion that allow them to avoid double taxation. Expats are also required […]

Senate Ratifies Updates to Tax Treaties

Senate Ratifies Updates to Tax Treaties

On July 16th and 17th, the Senate approved updates to the International Tax Treaties the US has with Spain, Japan, Switzerland and Luxembourg. These updates, or protocols, were agreed with the respective countries nearly a decade ago, with the delay in their ratification largely due to the efforts of a single senator, Paul Rand, who has […]

The US Foreign Tax Credit for Expats – the Ultimate Guide

The US Foreign Tax Credit for Expats – the Ultimate Guide

All Americans, including those who live abroad, are required to file US taxes, reporting their worldwide income. The US is the only country (besides African minnow Eritrea) that requires all of its citizens to file and pay taxes on their global income even if they live abroad. In contrast, the majority of other countries either […]

Form 6521 and Alternative Minimum Tax (AMT) for Expats

Form 6521 and Alternative Minimum Tax (AMT) for Expats

All Americans are required to file US taxes if they meet minimum income thresholds, including their global income, regardless of whether they live in the US or abroad. This leaves many expats having to file twice, to the country where they live as well as to the US. Thankfully, when they file, they can claim […]

Minimum Income Required for Expats to File US Taxes

Minimum Income Required for Expats to File US Taxes

The underlying principle of the US tax system is that US citizens and Green Card holders are required to file and report their worldwide income, whether they live in the US or abroad. This means that many expats have to file two tax returns, to Uncle Sam as well as in the country where they […]

What Expats Who Owe US Taxes Need to Know

What Expats Who Owe US Taxes Need to Know

Because the US tax system is based on citizenship (rather than residence), expat American citizens (and Green Card holders) are required to file US taxes, just the same as if they were living in the States. When expats file, they can claim one or more IRS provisions (such as the Foreign Tax Credit on Form […]