Impact of Buying and Selling Property on US Expat Taxes

US Expat Taxes: Buying and Selling Real Estate Abroad

Moving abroad is a stressful process, even moreso when you throw in property purchases abroad and the impact on your US expat taxes. So many issues surround the ownership of foreign property, including market conditions, foreign mortgages, exchange rates, new cultures, and even different legal structures. As you may already know, a US citizen’s worldwide […]

US Expat Taxes: Form 2555EZ

US Expat Taxes Explained: Form 2555-EZ for the Foreign Earned Income Exclusion

If you are a US citizen living and working abroad, you will likely take advantage of the Foreign Earned Income Exclusion (FEIE) on your US expat taxes by completing Form 2555 or 2555-EZ. The FEIE allows qualifying taxpayers to exclude up to $105,900 of foreign earned income from their 2019 US expat taxes and $103,900 […]

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 […]

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 […]

US Expat Taxes on Cryptocurrency

Understanding Expat Taxes on Cryptocurrency

Buying, selling, investing in, receiving, or transferring money using bitcoin, etherium, and other types of cryptocurrency have tax implications. Here’s what Americans living abroad need to know about expat taxes on cryptocurrency. What Is Cryptocurrency? Cryptocurrency refers to any virtual digital currency that is not the official currency of any country. Examples of cryptocurrency include […]

Tips and Tricks for Filing Late Expat Taxes

As an expat, there are things you need to be aware of and look out for when filing late taxes. You need to know how you can minimize penalties and interest, and you need to know when it’s time to hire a professional.        Late Filing Fees and Penalties  One of the biggest setbacks of filing taxes late are the fees […]