Americans Working Overseas: New IRS Compliance Campaign

New IRS Compliance Campaign for Americans Working Overseas: Expatriation

The Large Business and International Division (LB&I) of the IRS recently announced the addition of six compliance campaigns. Throughout the years, compliance campaigns have come and gone, but the new campaigns are targeting Americans working overseas specifically. The IRS hasn’t given explicit information on how it expects to carry out these campaigns, but expats still […]

IRS Compliance Campaigns: Post OVDP

New IRS Compliance Campaign: Post OVDP Compliance

The IRS’ six new compliance campaigns aim to crack down on noncompliance for American taxpayers – specifically expats. One of the latest campaigns will be seeking out those who are noncompliant in the aftermath of the termination of the OVDP (Offshore Voluntary Disclosure Program). What Was the OVDP? The OVDP was an amnesty program offered […]

IRS Amnesty Program for Renouncing Citizens

A New IRS Amnesty Program Is Here: Relief Procedures for Certain Former Citizens

Amidst all the news of looming IRS crackdowns, a bit of relief is on the way. Recently, a brand new IRS amnesty program was launched for those who have renounced their American citizenship (or even those who intend to!), called “Relief Procedures for Certain Former Citizens.” These procedures are intended to incentivize noncompliant taxpayers to […]

The Latest Citizenship Renunciation Numbers, and What They Mean for Expats

Many expats have a love-hate relationship with their American citizenship. While they may love being American citizens, the ongoing tax-filing requirements can make the burden of remaining a citizen too much to bear. Each quarter the Federal Register publishes the American citizenship renunciation numbers, and the numbers often reflect a number of different trends for […]

American Expat Entrepreneurs: IRS Compliance Campaign

New IRS Compliance Campaign for American Expat Entrepreneurs: S Corporations Built In Gains Tax

Recently, the IRS announced that it would be initiating six new compliance campaigns for specific tax noncompliance issues. One of these issues is the built in gains (BIG) tax that can occur when C Corporations transition into S Corporations and have net unrealized built in gains. Find out what American expat entrepreneurs need to know […]

Filing Taxes Late and Expat Passport Revocation

Filing Taxes Late? Your American Passport Could Be Revoked

Expats’ passports are their lifelines. The freedom to travel without restriction between countries is not a luxury – for many expats, it is the only way to see their families. The loss of a passport could affect their eligibility to work and much more. But recently, the IRS has started cracking down on Americans abroad […]

Expats and Taxes: IRS Compliance Campaigns

The IRS’ New Compliance Campaigns Target Expats and Taxes

The Large Business and International Division (LB&I) of the IRS announced that they are adding six new compliance campaigns, and these are targeting expats and taxes specifically. Though not a lot of information is known about how the IRS plans to conduct these campaigns, expats will want to take a look at our summary below […]

Foreign Tax Credit Calculation Webinar

Register Now for Our Free Webinar: Who Qualifies for the Refunds Owed to American Expats in France

Due to the recent landmark court ruling, the IRS owes many American expats in France many sizeable refunds. An error that the IRS made in the Foreign Tax Credit calculation means the IRS expects to owe somewhere in the neighborhood of 100-300 million dollars to US expats who reside in France. However, determining if you […]

Filing FATCA: Canadian Court Rules in Favor

Breaking News: Canadian Court Case Rejects a Challenge to Filing FATCA

Yesterday, a Canadian court in Ottawa rejected a challenge to the lawfulness of mandatory requirements for filing FATCA issued by two dual Canadian-American citizens. This latest dismissal is a setback to the global progress toward repealing FATCA – or at least testing its legitimacy. What Filing FATCA Means to Expats FATCA (Foreign Account Tax Compliance […]