If you’re an American living abroad who hasn’t filed taxes since you relocated, you may be surprised to hear that you are considered by the IRS to be delinquent regarding your tax-filing obligations. Many Americans don’t realize that their citizenship means a lifelong tax-filing requirement to the US government, regardless of their location. Worse yet, […]
As we approach the next tax season, we could all use some good news, right? Well, the IRS is making strides toward becoming less rigid, being more flexible, and saving the taxpayers time and money. The latest International Revenue Service Advisory Council (IRSAC) Public Report reviewed the IRS’ penalty process and recommended changes that might […]
Still haven’t filed your 2019 tax for expats? Well, there’s never been a better time to do so! With the end of the year quickly approaching, becoming compliant on your tax obligations is a must in order to avoid penalties, pay less, keep your passport, and lower your audit risk. Read on for details about […]
Now more than ever, the IRS has made it a priority to improve compliance with rules around the reporting of foreign assets and income. Since it’s estimated that the government misses out on billions of dollars in tax revenue a year as a result of avoidance, it’s easy to understand why. While hefty penalties or […]
If you don’t keep up with IRS news these days, that’s okay, because Greenback is keeping track of it for you. This past year, the IRS shifted its focus pretty vigorously towards compliance and tax for US citizens living abroad. And recently, the IRS launched six new compliance campaigns. These campaigns give us insight into […]
If you’ve been planning on electronically filing your US expat tax return, take note of the IRS e-filing shutdown in November. What is the e-filing shutdown? The e-filing shutdown is a routine event by the IRS in an effort to prepare their systems for the upcoming tax filing season. After the shutdown, tax returns will […]
“The hardest thing in the world to understand is the income tax.”- Albert Einstein If Albert Einstein, purportedly one of the brightest minds in known history, found income taxes hard to understand, it is not surprising that more ordinary minds (us!) have a hard time understanding it, too! Being Behind on Your Taxes Is Not […]
Many expats don’t realize that they still are required to file annual Federal Tax Returns to the US long after they’ve moved abroad. In fact, they’ll need to file each year as long as they meet the income threshold and retain their US citizenship. But, there is a way to get caught up without paying […]
Calling all Americans abroad! The new compliance campaigns that the IRS has launched in recent months are unquestionably aimed toward one group in particular: Americans abroad who haven’t filed their taxes. So, we’re going through the campaigns one by one to get expats the information they need in order to prepare in advance. Read on […]
The last deadline for expats with an extension is tomorrow, October 15th. If you are an American living abroad who hasn’t filed this year but has received income, this means you’ll be filing taxes late. Though the phrase better late than never does apply here, you’re going to want to get your annual filing finished […]
