Latest posts
-
Streamlined Catch Up Late Filing: A Complete Guide for Expats
If you live abroad and have fallen behind with your U.S. tax returns, the IRS Streamlined Procedures may give you a practical way to catch up. The Streamlined Filing Compliance Procedures help qualifying taxpayers correct previous U.S. tax and foreign account reporting failures when those failures resulted from non-willful conduct. For Americans living overseas, the…
-
FEIE vs. Foreign Tax Credit: What’s the Difference for U.S. Expats?
Americans living abroad have two powerful tools available to reduce U.S. tax on their foreign income: the Foreign Earned Income Exclusion and the Foreign Tax Credit. The Foreign Earned Income Exclusion (FEIE) lets qualifying expats remove a limited amount of foreign earned income from U.S. federal income tax. The Foreign Tax Credit (FTC), by contrast,…
-
Do Americans Living Abroad Have to File U.S. Taxes? A Guide for Expats
Living abroad can change almost every part of your financial life, but it usually doesn’t end your relationship with the U.S. tax system. If you’re a U.S. citizen or green card holder living overseas, the United States generally requires you to report your worldwide income and file a federal tax return under the same basic rules…