Welcome to your weekly expat tax news update! What’s on our minds this week is the recently finalized 2017 citizenship renunciation data, David McKeegan’s article on what expats can expect from the tax reform, and some recommendations we have to ensure that your tax information is stored securely for years to come.
2017 Citizenship Renunciation Data is Here
The IRS published the final data for 2017 citizenship renunciation, and though the numbers had been growing over the past couple of years, a deceleration occurred between 2016 and 2017. In 2016, 5,411 Americans renounced their citizenship but in 2017, 5,132 citizens renounced their citizenship. Citizenship renunciation looms heavily on the minds of many expats, often due to the continued tax reporting requirements that exist long after they have left. Read the answers to common expat questions about citizenship renunciation!
Greenback Co-Founder David McKeegan’s Tax Reform Article Featured in AccountingWEB
If you’re still wondering what the new tax reform means for your expat taxes, you’re in luck! David McKeegan has unscrambled all the tax jargon into something much easier to read and tailored for expats. Curious about the new inflation calculations or interested in the comparison between the 2017 and 2018 tax brackets? All that and more is in his latest article.
Reminder: Back Up Your Documents
In the rush to prepare for the upcoming tax deadlines, don’t be the expat who forgets to back up their documents! One of the most important steps in making your tax prep easier is to have a good backup system in place, just in case an unforeseen situation arises. Read more helpful hints about tax document security here.
So Long, For Now
Have a question about your expat taxes or anything featured here? Drop us a line! Otherwise, come back next week for the latest expat tax news.