If, like many expats, you’ve considered filing with the streamlined procedures on your own, you might want to read our list of reasons why you may want to reconsider. Unless, of course, you’re an accountant who specializes in expat taxes; in that case, you have our blessing. So You’re Late Filing Expat Taxes. Don’t Worry—You’re […]
So, maybe you’ve heard of the Streamlined Filing Procedures for Americans living abroad who need to report their foreign financial assets and accounts to the IRS. But did you know that Americans residing stateside also have to report these foreign accounts? They do. Luckily, there’s an IRS amnesty program for them, too. It’s called the […]
When moving abroad, it’s often easy to get caught up in the new and exciting. Expats pick up their lives and migrate around the world, in some cases never intending to reside stateside again. To embrace the “new” of their expatriate adventure, US citizens may overlook their “old” responsibilities, be completely unaware that these still […]
How to File for the Streamlined Foreign Offshore Procedures The US is one of only two countries that taxes its citizens on their worldwide income, regardless of where they reside. This fact comes as a shock to many, including many of the estimated 9 million Americans living abroad. The IRS estimates that only half of […]
We get it. Mid-April comes around a lot faster than you might expect! Nevertheless, April 15th is the primary tax deadline for Americans living stateside and abroad alike, and it’s best to file as early as possible to put your mind at ease and avoid filing taxes late. In this post, we’ll discuss why that […]
If you have outlying Foreign Bank and Financial Accounts Reports (FBAR) that you have not been able to file, don’t worry! The good news is that there’s a system in place to file FBAR forms from previous years easily from the comfort of your desk. In this post, we’ll show you how. Common Issues with […]
If you’re an American living abroad who is filing US taxes late, meet your favorite IRS amnesty program: the Streamlined Filing Procedures. These procedures help US expats get caught up on 3+ years of taxes without paying penalties! Learn about the steps to prepare for the Streamlined Filing Procedures. A How-to Guide For Streamlined Filing […]
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 […]
