Will Bitcoin Ever Be Regulated?

Will Bitcoin Ever Be Regulated?

This article was originally published by Albaron Ventures. As Bitcoin and other digital assets continue to grow in adoption and popularity, a common topic for discussion is whether the U.S. government, or any government for that matter, can exert control of its use.  There are two core issues that lay the foundation of the Bitcoin […]

Reprieve for Accidental Americans Facing Bank Account Closure

Reprieve for Accidental Americans Facing Bank Account Closure

While Americans living abroad have been required to file US taxes reporting their global income, since the Civil War, it is only the last few years that the US government has been able to enforce the requirement. Americans with foreign registered financial (i.e. bank or investment) accounts are also required to report them annually by […]

IRS Form 8965 – Everything US Expats Need to Know

IRS Form 8965 – Everything US Expats Need to Know

All Americans, including expats, are required to file US taxes every year, reporting their global income. Tax Treaties don’t inherently prevent expats from having to file or pay US taxes. Instead, expats can claim IRS provisions to achieve this by filing additional forms when they file their federal return. These provisions include the Foreign Tax […]

IRS Releases New Cryptocurrency Reporting Form 1040 Guidance

IRS Releases New Cryptocurrency Reporting Form 1040 Guidance

Following recent news that the IRS wrote to over 10,000 Americans (including expats) whom they believe hold Bitcoin or other virtual or cryptocurrency accounts informing them that they may owe tax, the IRS provided new guidance last week on how to report cryptocurrencies and in what circumstances they may be liable to taxation. Furthermore, the IRS […]

Do US Expats Pay Medicare Tax?

Do US Expats Pay Medicare Tax?

Expats often ask whether Americans are still required to pay Medicare Tax if they live abroad. In this article we delve deeper into some different scenarios where they may have to. General US tax rules for Americans living abroad The US requires all Americans to file US taxes every year, reporting their global income. This […]

US Expat Tax Filing: What Documents Do I Need? A Checklist

US Expat Tax Filing: What Documents Do I Need? A Checklist

All American citizens and Green Card holders are required to file a US federal tax return every year, reporting their global income, even if they live abroad. Americans may also have to report any foreign registered businesses, financial assets, and bank or investment accounts that they may have. Neither international tax treaties nor filing foreign […]

FBAR Bank Account Reporting for US Expats – The Ultimate Guide

FBAR Bank Account Reporting for US Expats – The Ultimate Guide

Over 9 million Americans have chosen to embrace the adventure of a lifetime – living abroad. Many don’t realize though that the US tax system requires all US citizens to file US taxes, reporting their worldwide income, wherever in the world they might be. In contrast, most other countries either just tax residents, or just tax income […]

FATCA Exception For Expats Resident Abroad Bill Introduced

FATCA Exception For Expats Resident Abroad Bill Introduced

Americans living abroad are subject to US taxation on their worldwide income, as well as a raft of other US reporting requirements, such as having to report their foreign financial accounts each year by filing an FBAR (Foreign Bank Account Report). FBAR reporting is triggered if any American has a total of over $10,000 in foreign accounts […]