09/03/2020
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 […]
08/31/2020
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 […]
04/05/2022
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 […]
01/03/2025
Given the sheer quantity of IRS forms, schedules, reports, and other documents, the average American can’t be expected to memorize them all. Of course, some forms are more relevant to your circumstances than others — and those are the ones worth reading up on. One critical form for expats to familiarize themselves with is IRS […]
03/30/2021
Many US citizens living abroad aren’t sure whether they need to file US taxes. In this article we’re going to clear up a few common misconceptions, and provide some strategies for success. Do US citizens living abroad have to file US taxes? Yes. All US citizens, including those living abroad, who earn more than the […]
09/03/2020
Millions of Americans living abroad aren’t aware that all American citizens are required to file US taxes, reporting their global income, wherever in the world they live. The requirement for Americans living abroad to file is an anomaly that dates back to the Civil War, when the federal government was desperate for revenue at a […]
07/18/2020
Every year, global bank HSBC carries out the world’s largest and most influential survey of expats to find out what issues they face and more importantly, which are the best countries to live in. While for the last four years the results have been fairly similar, this year’s survey of over 18,000 expats in 33 […]
01/24/2025
Japan has long been hailed as a great vacation destination due to its natural beauty, rich culture, and delicious cuisine — but it’s also surprisingly common for Americans to retire in Japan. And with Japan’s great healthcare system, low crime rates, and lower cost of living, it’s not hard to see why. Below, we’ll delve into […]
09/03/2020
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. […]
07/18/2020
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 […]