Bright!Tax US Expat Tax Blog

US Expat FBAR Foreign Bank Reporting Requirements and Willfulness

expat filing fbar willfulness

Because the US taxes based on citizenship rather then residence, just like Americans living stateside, expatriates are still required to file a US tax return if they earn over around $10,000, or just $400 of self-employment income. Similarly, they must declare and pay US taxes on their worldwide income, although there are several exclusions that […]

What is Form 8938? FATCA Filing Requirements for US Expats

Form 8938 Filing Requirements - US Expats and FATCA

The US uses a citizenship-based taxation schema, which requires expats to file US taxes, reporting even foreign-earned income, as long as they’re US citizens. Fortunately, there are many exclusions and exemptions available to reduce US tax owed, often to $0. However, filing does become more complicated when foreign financial assets are involved, as these also […]