10/09/2026
If you renounce U.S. citizenship or give up a long-term green card, the U.S. exit tax can apply if you meet the financial or tax-compliance tests for a “covered expatriate.” It can tax gains on assets you haven’t sold, while pensions and certain other arrangements have separate rules. But expatriating does not automatically mean you […]
10/08/2026
Green card holders must report their worldwide income to the IRS, even when they live and work outside the United States. Moving abroad does not end U.S. tax residency, and paying tax in another country does not replace your U.S. return. At Bright!Tax, we help green card holders work out what belongs on that return, […]
10/07/2026
Foreign mutual funds and ETFs can look like perfectly ordinary investments—until the U.S. tax rules classify them as Passive Foreign Investment Companies (PFICs). When that happens, you may need to file Form 8621, report income each year and follow a tax regime that bears little resemblance to the rules for U.S. funds. At Bright!Tax, we […]
10/06/2026
Form 4868 extends the federal tax filing deadline to October 15 for most individual taxpayers. For qualifying Americans abroad, who already receive an automatic extension to June 15, it provides another four months to finish the return. The catch is that Form 4868 extends your filing deadline—not your payment deadline. At Bright!Tax, we often see […]
10/05/2026
Form 2350 gives certain Americans abroad more time to file when they won’t qualify for the Foreign Earned Income Exclusion or foreign housing benefits until after their tax return is due. It isn’t a general extension, and it doesn’t give you longer to pay—but it can prevent you from having to file once without the […]
10/03/2026
It’s not always easy to get detailed information about green cards. The US Citizenship & Immigration Services (USCIS) website can be technical and dense, which may leave you even more confused. As a dedicated tax firm for US immigrants and Americans abroad, we’re well familiar with green cards — so we’ve put together a brief, easy-to-understand guide.
10/02/2026
Missing the tax deadline doesn’t stop you from filing, but what happens next depends largely on whether you owe the IRS or the IRS owes you. If you’re due a refund, you generally won’t face a late-filing penalty; if you owe tax, penalties and interest can build until you file and pay. At Bright!Tax, we […]
10/01/2026
U.S. expats can deduct ordinary and necessary business expenses—including software, professional fees, equipment, marketing and qualifying home-office costs—from their self-employment income. These deductions can reduce both income tax and self-employment tax, while other tax breaks only affect income tax. The distinction is easy to miss. At Bright!Tax, we regularly see freelancers abroad claim the Foreign […]
09/30/2026
Discovering that you should have filed U.S. tax returns, FBARs or international information forms can be unsettling—but non-willful mistakes can often be corrected through the IRS Streamlined Filing Compliance Procedures. At Bright!Tax, we help Americans work through this process every day. The streamlined procedures allow eligible taxpayers to correct missed foreign income and reporting without […]
09/29/2026
Falling behind on U.S. taxes while living abroad does not automatically mean facing years of penalties. If your mistake was non-willful and you meet the IRS’s non-residency rules, the Streamlined Foreign Offshore Procedures let you file overdue or corrected returns and FBARs without the usual failure-to-file, information-return or FBAR penalties. At Bright!Tax, we often work […]