The IRS has multiple tools in place to eliminate dual taxation, but you must qualify as an American expat to take advantage of some of them.
In order to qualify as an American expat for the Foreign Earned Income Exclusion, you must meet the following requirements:
You must have foreign earned income.
Your tax home must be in a foreign country.
You must do one of the following:
Pass the Bona Fide Residence Test – A US citizen who is a bona fide resident of foreign country or countries for an uninterrupted period that includes an entire tax year, basically meaning you live abroad with no intention of permanently returning to the USA;
Pass the Physical Presence Test – A US citizen or a US resident alien who is physically present in a foreign country or countries for at least 330 full days during any period of 12 consecutive months; or
Be a US resident alien who is a citizen or national of a country with which the United States has an income tax treaty with a non-discrimination article in effect.
When do I have to pay for my Greenback services?
When we prepare your returns, we want you to be 100% satisfied before you pay anything! As such, there is nothing due up front. Instead, your invoice will be sent after your return has been drafted. This gives you the chance to work with our system, our process, your accountant, and be completely satisfied with all these things before you have to address your invoice. We generate the invoice when the draft return has been uploaded to your secure file, and we ask that you pay the invoice within 5 business days. Once you have approved your draft return and paid the invoice, your final tax return will be uploaded to your secure file. If we are able to e-file your return, we will do so, but if we are unable to e-file, you will need to print, sign, and mail in your tax return.
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I was really impressed with how easy and painless this process was. I needed to catch up on a few year’s of tax returns, and my accountant was more than helpful. She did a thorough job answering my questions and filling out my return, and I was pleased with the quick turnaround time. I’ll definitely be using this service next year!
Carrie B - United Kingdom
The process is easy and they help you through it right up to paying your taxes. This is important if you don’t have a bank account in the USA. They are completely trustworthy and look after your best interest.
Eric K - France
I am an entrepreneur and my main focus is making my business the best it can be. I had fallen behind on my US taxes and that’s when I engaged Greenback. The process was simple and smooth – I uploaded my tax records, the questionnaire and then my accountant prepared and filed my returns. Now I can stay focused on my business knowing that Greenback will take care of my US taxes!
Dan A - Vietnam
3rd year customer and impressed with the constant check up by customer support. The whole team understands what’s like to live and work overseas, their price remains pretty competitive and I will come back next year.