US Taxation of Foreign Pensions

US Taxation of Foreign Pensions: What Expats Need to Know

Understanding foreign pensions can be difficult, especially when you already have to navigate the often-complicated US taxation process while living abroad! Whether you’re planning to retire overseas or move back to the US eventually, you should be aware of these facts regarding your foreign pension. Foreign Pensions and US Taxation: The Basics Over nine million […]

2019 National Taxpayer Advocate Report

What Expats Should Know About the 2019 National Taxpayer Advocate Report

Recently, the 2019 National Taxpayer Advocate Annual Report to Congress and the 2020 Purple Book were released. The Taxpayer Advocate Service (TAS) is an independent organization that works inside of the IRS to ensure fairness and that taxpayers understand their rights. The reports from the Taxpayer Advocate Service show what concerns and focus areas this […]

Expats Renouncing Citizenship: 3rd Quarter 2019

How Many Expats Renounce US Citizenship—& Why?

Each quarter, Greenback tracks the number of expats renouncing citizenship. Why? Citizenship renunciation is something that affects Americans living abroad exclusively, and it’s often a decision based primarily on the continued tax reporting requirements all American citizens have. The Federal Register recently released the final count for the end of 2019. Let’s see how this […]

New IRS Compliance Campaign: US Territories Erroneous Refundable Credits and the Foreign Tax Credit

The Foreign Tax Credit is a great way for Americans abroad to reduce their taxes. But the confusing formula used to calculate the credit can get expats into trouble. To avoid IRS scrutiny and penalties, make sure you’re using the Foreign Tax Credit formula correctly. Why Does Foreign Tax Credit Compliance Matter? Every once in […]

Americans Working Overseas: New IRS Compliance Campaign

New IRS Compliance Campaign for Americans Working Overseas: Expatriation

In 2019, the Large Business and International Division (LB&I) of the IRS announced the addition of six compliance campaigns. Throughout the years, compliance campaigns have come and gone, but the 2019 campaigns target Americans working overseas specifically. In particular, the expatriation endeavor will have consequences for a subsection of Americans working abroad who expatriated recently. […]

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

IRS Amnesty for Former US Citizens: How to Become Compliant

In 2019, an IRS amnesty program was launched for those who have renounced their American citizenship (or even those who intend to!). The Relief Procedures for Certain Former Citizens offer incentives to noncompliant taxpayers to voluntarily come forward and get caught up on their taxes without being taxed as a covered expatriate. Find out how this […]