Bright!Tax US Expat Tax Blog

Form 3520 – Reporting Foreign Offshore Trusts for US Expats

expat filing form 3520

Americans living abroad are still subject to US tax filing requirements on their worldwide income. There are also further US filing requirements just for expats, including having to report foreign bank and investment accounts if the expat’s combined balances exceed $10,000 at any time during the year, and reporting foreign financial assets on form 8938. […]

FBAR Reporting for US Expats with a Foreign Business

expat fbar foreign business

FBARs (Foreign Bank Account Reports) have been a filing requirement for Americans with financial accounts overseas that meet the criteria since the Bank Secrecy Act of 1970. It has only been enforced for the last few years however, since the 2010 Foreign Account tax Compliance Act (FATCA) obliged foreign financial institutions to pass details about […]

IRS Taxes for US Inpats – Everything You Need to Know

taxes for inpats

Inpats, or inpatriates, are foreigners who have been transferred to work in the United States. So in a sense, inpats are also (from the perspective of their country of origin) expats. As individuals working in the States, inpats normally become subject to the US taxation system. This is probably the first time they’ll encounter the […]