Greenback Expat Tax Services
Regulatory changes to the Foreign Tax Credit have recently been proposed by the IRS. Because these changes – part of the ever-evolving Tax Cuts and Jobs Act (TCJA) of 2017 – concern both foreign businesses and some foreign individuals, we’re taking a closer look to share with you everything expats should know about the proposed…
This past September, the IRS terminated the Offshore Voluntary Disclosure Program, stating that the program had fulfilled its potential, having been open for a decade (although revised periodically) and being used by over 56,000 taxpayers. However, the IRS just announced that they are initiating a new iteration of the program with modified rules. Find out…
The National Taxpayer Advocate’s Report is published biennially by the Taxpayer Advocate Service (TAS), an independently run organization that serves as a type of watchdog for IRS performance. The mid-year report addressed the ethical issue of confiscating passports based on tax non-compliance, a matter of great importance to expats around the world. The newly released…
Tax Reform 2.0 passed the House in late September right before the midterm elections. Now that the midterms have passed, we’re looking to see where the bills tied to Tax Reform 2.0 stand. As you may recall, the Tax Cut and Jobs Act passed last December. However, most of the individual and some small business…
Whether this is the first time you’ve heard the term cryptocurrency or you’re a crypto-connoisseur, this is relatively new territory – and you’ll want to understand precisely how this new currency can affect your expat taxes. What exactly is cryptocurrency? Is it an investment? Is it legal tender? And, how does the IRS treat cryptocurrency?…
Expatriate tax preparation can sometimes feel like a tough process. It doesn’t have to be! Understanding what docs to provide will make the process go smoother on both sides. BASIC INFORMATION Tax Questionnaire Once you engage an accounting practice for your overseas tax return preparation you will likely be provided with a “Tax Questionnaire.” This form…
The final deadline for filing expat taxes was October 15th; did you miss it? If so, you’ll want to read the answers to the questions our accountants encounter from expats just like you. We’ve laid out your options, so you don’t have to lose any more sleep over your expat taxes. 1) I Have Not…
2018 is nearing its end, and a little bit of planning can help you have a smooth transition into the new year. Use our five-step checklist to ensure you are as prepared as can be for 2019. #1: Gather Your US Travel Documents First things first: find your documents that demonstrate how much time you…
Is there anything more romantic than taxes? Well, probably. But that doesn’t mean you and your spouse should avoid the issue altogether, especially if one of you is a non-US citizen. The fact is that the rules for filing joint taxes as a married couple in the US don’t differ greatly if your spouse is…
If you’re living and working abroad, chances are, you’ll want to take advantage of the Foreign Earned Income Exclusion (FEIE). In order to do so, though, you must fill out Form 2555 or 2555-EZ and attached it to your US Tax Return. Here’s what you should know about this important form. First Things First: Breaking…
