Happy Valentine’s Day 2022
This year we would like to wish you a loving and Happy Valentine’s Day ❤️
The IRS has introduced several updates for the 2025 tax year, and U.S. expats should take note. From revised thresholds to stricter compliance efforts, here’s what’s new: Key Changes to Know Take Action These updates highlight the importance of working with a tax professional who understands expat tax law. Don’t risk penalties for non-compliance—prepare early.
Bona Fide Residence Test The Bona Fide Residence Test is often misunderstood by expatriate taxpayers. In order to qualify there are many rules and regulations. Residency in a foreign country alone does not qualify you for this classification. Qualifications for the Bona Fide Resident Test To be eligible for the Bona Fide Resident Test you…
The Foreign Earned Income Exclusion (FEIE) allows U.S. expats to avoid double taxation by excluding foreign wages when calculating taxes, which reduces payment obligations to the United States. U.S. expats MUST FILE even if they don’t owe taxes. We can provide information on your eligibility for FEIE. Contact Expatriate Tax Returns to learn more or if…
YOU DON’T HAVE TO FILE A US TAX RETURN BECAUSE YOU LIVE ABROAD Not so! US citizens and permanent residents must file a tax return no matter where they live or earn money, unless they do not meet the standard filing requirements. IF YOUR FOREIGN INCOME IS BELOW THE FOREIGN EARNED INCOME EXCLUSION, FILING IN…
Physical Presence Test Everybody loves a tax break! The Physical Presence Test is designed for American Expats who are only away from home for 11 months or more. This exclusion can decrease or remove any U.S. income tax you may owe. Qualifications for Physical Presence Test The requirements for the Physical Presence Test are as…