10/07/2025
FATCA, the Foreign Account Tax Compliance Act, was a law passed in 2010 as part of a federal post-2008 financial crisis drive to crack down on tax cheats hiding their money abroad. An unintended consequence though has been the government both snooping on and increasing the tax burden on the estimated 9 million ordinary Americans […]
10/07/2025
All Americans living overseas are subject to file a US tax return each year if they earn over $14,600 (2024), or just $400 of self-employment income, regardless of where they live or where their income is from. While filing an annual tax return is one of the downsides of holding a US passport, you may […]
10/07/2025
Our Bright!Tax IRS Insights series lifts up the hood to reveal the inner workings of the IRS engine. Today we’ll be looking at the best strategies for responding to an IRS audit letter. As described in our previous IRS Insights article, the IRS can access a vast amount of information about US taxpayers living abroad, […]
10/07/2025
We are delighted to announce the launch of the Bright!Tax Global Scholar Initiative. The initiative will offer supplemental fees support to the next generation of young Americans who are currently studying or who would like to study abroad. The Bright!Tax Global Scholar Initiative will provide scholarships of a minimum of $1000. Awards will be made […]
10/07/2025
Bright!Tax is delighted to announce that Katelynn Minott, CPA, has been promoted to Partner. With clients in over 150 countries worldwide, Bright!Tax is a leading provider of US expat tax preparation services to the nine million Americans living overseas. Before joining Bright!Tax in 2012 as a Senior CPA, Ms Minott graduated from the University […]
10/07/2025
American expats can live incredible lives, and often have incredible stories to tell. New Yorker Caroline Calloway is a mature student studying History of Art at Cambridge, one of the UK’s (and world’s) oldest Universities. Her Instagram posts about her adventures in the bizarre “Harry Potter-esque” world of the university’s antiquated traditions and rituals have gained […]
10/07/2025
Living abroad is for some people a temporary endeavor while for others it is a lifetime adventure, however in all cases – while we’re still US citizens or green card holders – we are liable to pay US federal taxes, and in some cases, state taxes too. To help prevent double taxation, paying tax on […]
10/07/2025
Currently, an estimated nine million Americans are living abroad. The majority have accounts at foreign banks, and many of them are now receiving letters from their banks asking for their US tax identification numbers. Some are also asking their American clients to certify that they are current with their US tax filings. FATCA, the […]
10/07/2025
Greg Dewald, Bright!Tax CEO Following in the trailblazing footsteps of some of America’s most innovating and exciting new businesses, entrepreneur Greg Dewald and his team of financial whizzes will see their cloud based start-up Bright!Tax reach thrilling new heights this year after being chosen to receive seed capital from one of United States’ most progressive […]
10/07/2025
Robert W. Wood – The number of Americans renouncing United States citizenship or terminating long-term residency is on a record pace. Every 3 months, the government publishes the names of individuals who renounced U.S. citizenship or gave up a green card. This public outing puts Americans on notice who relinquished their rights. For January to […]