The FBAR…No News is Good News! If you have more than $10,000 USD in foreign banks, you must file a Foreign Bank Account Report (FBAR), Form number TD F 90-22.1, reporting the financial institution(s) name, address, account number and highest balance of the year. This informational tax form is filed with the United States Department…
IRS Reduces Filing Requirements for American Expats The kinder, friendlier IRS has temporarily reduced their statute of limitations for tax return filing for American expats from 6 years to 3 years as long as you are a “low risk” taxpayer who owes $0 to $1,500 of tax to the US government. That’s right file 2009,…
Signed into law on March 18, 2010 the HIRE ACT, which is due to take effect January 1, 2013, Americans living abroad will face more financial scrutiny than ever before. One subsection of the act includes provisions that require foreign financial institutions, investment funds, trusts, family offices and other types of investment vehicles to report…
Many Americans think because they live abroad they don’t have to file or owe US taxes, especially if they are paying taxes in their host country. This is far from the truth. Many expats end up falling behind on their taxes with fees and penalties accruing causing stress and anxiety. At Expatriate Tax Returns we…
It’s very easy to get behind on taxes when living abroad. It’s a common misconception that you don’t need to file taxes if your living in a foreign country. This is not true. You must file taxes as long as you are an American Citizen. Even if you are a dual citizen, and you pay…
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