07/20/2020
Amsterdam is one of the most popular destinations in Europe for US expats, with an estimated 30,000 Americans living there. It’s no surprise, as Amsterdam is a great place to live. Its culture, architecture, canals, and great quality of live all mean Americans expats in Amsterdam enjoy a truly enriching experience. Unfortunately for Americans […]
09/03/2020
Bright!Tax is the leading provider of US tax services for expats, having won four global EMMA Awards for excellence and innovation in 2017. Bright!Tax now offers Canadian tax filing for Americans living in Canada too, providing a one stop shop solution for US expats living in Canada. Americans living in Canada are required to file […]
09/03/2020
Americans living abroad are required to file a US federal tax return every year, reporting their worldwide income, the same as if they lived in the States. The US is the only developed country that requires expats to file this way, and it is also the only country able to police the requirement, as it […]
09/03/2020
Filing US taxes from abroad has been a requirement for American expats for around 150 years, however until recently it wasn’t a requirement that the IRS was able to enforce, so many expats didn’t bother. Since the 2010 Foreign Account Tax Compliance Act (often referred to as FATCA) however, the IRS now has access to […]
07/20/2020
Bright!Tax, the leading US expat tax services provider, established its Global Scholar Program in 2016 to help young Americans have the opportunity to study overseas. Awarded biannually, the program has since provided four exceptional young Americans with the opportunity to study abroad. Now, Colorado resident Addison Noel has become the fifth Bright!Tax Global Scholar, and […]
03/31/2025
If you’re investing internationally, you might not realize that some foreign assets come with extra IRS reporting requirements. Enter Form 8621—the form U.S. taxpayers must file when they own Passive Foreign Investment Companies (PFICs). PFICs can include foreign mutual funds, ETFs, and even certain foreign corporations. The IRS keeps a close watch on these investments, and failing […]
01/29/2025
Although Form 3520 can be complex, we have plenty of experience with it as a tax firm specializing in US expat taxes. Below, we’ll walk you through who must file Form 3520, how to do so, where to send it, and more.
03/03/2025
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 […]
08/10/2020
US expats have been required to file US taxes since the nineteenth century, however it’s only since the Foreign Account Tax Compliance Act (better known as FATCA) was passed in 2010 that the IRS has had the means to enforce this requirement. FATCA requires US expats with over $200,000 in financial assets held overseas to […]
09/03/2020
The Trump Tax Reform brought significant changes for many expats with a foreign registered businesses. Previously, a foreign registered corporation owned by Americans could leave its profits in the business to avoid paying US taxes on them. This led to giant corporations such as Apple having billions of untaxed profits sitting offshore though. To remedy […]