When it comes to US expat taxes, there may be a lot you don’t know! In addition to the confusing laws, deductions, credits and qualifying factors, things change from year to year. So let’s take a look at 5 things you may not know about filing US taxes- but should.
It’s no secret that filing expat taxes is confusing and few expats know all the laws and rules. But these 5 facts may surprise even the most seasoned tax-filing expat!
Filing US taxes as an American living abroad can be time-consuming, confusing and downright frustrating. But it doesn’t have to be! We believe that ‘knowledge is power.’ The first step to preparing your taxes is gathering your tax documents—then it’s time to complete the forms! But which ones? Here are the 5 most common tax forms US expats need to file.
If you’re reading this article, you are likely one of the millions of Americans living overseas who didn’t realize that you must file US tax returns each year and you’ve gotten behind. We understand you may be concerned but we’re here to help you wade through the murky waters of US expat tax compliance! Here are the 5 reasons you don’t need to stress about being behind on your US expat taxes.
American expats living abroad have an opportunity to invest in a wide range of investment vehicles. Specifically, the United Kingdom residents have an access to a variety of tax-free collective investments. US citizens and green card holders who have been advised to acquire foreign mutual funds as a part of their investment strategy should be prepared to deal with harsh US expat tax consequences.
Back in 2009, the global financial tycoon, UBS, made a payment of $780M to the IRS and forever changed the security of Swiss banking by reporting American Citizens with offshore accounts. Since then, additional international banks have come forward with information about American Citizens and Green Card Holders maintaining foreign accounts which had not been reported to the Department of Treasury as mandated by
U.S. tax rules are unfortunately particularly complicated. Special rules apply to Americans living abroad, which can make US expat taxes even more difficult to maneuver! This article shares our top 5 “must-knows” for Americans living abroad.
#1: All US citizens are required to file a tax return to the US regardless of where in the world they live or work.
Unfortunately, US expatriate tax return reporting requirements baffle even the most seasoned taxpayers. The requirements are constantly changing and in recent years, new asset reporting forms such as the Report of Foreign Bank and Financial Accounts (FBAR) and the Statement of Foreign Financial Assets (
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