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Expatriate Tax Returns

IRS

The World’s Only Getting More Hectic

If you have been feeling like you’re head’s been spinning out of control because of the daily news cycle, you’re not alone. Each day there are new shocking revelations in the world news, and as the world appears to be getting smaller thanks to globalization, these news items affect us no matter where we are living and working. An American expat living in London, Sydney or Tel Aviv is certainly affected by news that President Trump has signed a bill changing U.S. tax laws that might affect expatriates.

You might choose to not follow the 24-hour news cycle so closely in order to preserve your sanity. However, our company, Expatriate Tax Returns, sees it as part of our mission to follow how world politics, American tax law, and other issues affect our clients financially. Our only clients are American expats and we make it our top priority to ensure that our team of accountants stays up-to-date on all changes in the tax code.

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You don’t have to follow the news because we do. That’s our job. You can focus on work, family, hobbies and everything else that’s important to you. Let us worry about how the world is changing and how those changes will affect your expatriate taxes. At Expatriate Tax Returns, we know that American expats have enough to worry about without trying to figure out expat tax preparation.

We’re here for you… our clients. Call us today at 877-382-9123.

Our Expatriate Clients are First & Foremost

Have you noticed that in our society, taking responsibility isn’t what it used to be? Too many service related companies have made customer service a low priority. At Expatriate Tax Returns, we put our clients first and their tax needs are foremost for all of our tax professionals.

While some service related companies try to shift the blame, we take responsibility. When it comes to tax preparation, taking responsibility is the utmost principle. Our professionals take their responsibility to our clients, who are living abroad, very seriously and we understand the trust our clients place in us can never be taken lightly. As expats, your tax returns are your own responsibility, but you have placed the trust in us to prepare them efficiently and effectively.

Expatriate Tax Returns

Our team of tax experts feels that sense of responsibility for your tax returns. We are cognizant that you have a responsibility to the U.S. government to file your expatriate tax returns in a timely manner. When we all place value on being responsible, we are all successful. Your tax returns to the U.S. are filed and paid on time, and we maintain the trust that you have placed in us.

It’s not easy for American citizens to relocate to another nation, far from home, and we understand this. We take it as our responsibility to ensure you understand the Foreign Tax Credit, your rights as an American expatriate, and that you are reminded of the IRS deadlines for tax filing.

No matter where in this world you currently live and work, the expatriate tax laws must be respected. It can certainly be a hassle to have to file these taxes each year, but we thank you for placing that trust in us and know that we will honor and respect your trust by serving you to the best of our ability at all times. This is the cornerstone of what we stand for at Expatriate Tax Returns — your expatriate tax professionals. Call us today at (877) 382-9123.

The Big Move Means Big Decisions for New Expats

Now is the time of year that many big corporations are discussing HR changes for the fall. If you’re involved in these discussions, you could soon be contemplating a big move overseas.

If you plan to move abroad this year, it will be an exciting and challenging time. There are many factors to consider like what your spouse will do overseas and where your kids will go to school. There are also a plethora of opportunities and experiences to look forward to as an American expatriate. After accepting a new job overseas or a job transfer to a country outside the United States, it’s important to create a long “To Do List” with critical items like finding a place to live, forwarding mail, and finding a physician in your new country. Selecting a trustworthy and dependable CPA firm with experience working with expats is also essential.

Expatriate Tax Returns has many years of tax planning and preparation experience specifically for expats. We put that knowledge to work for you — our clients. It’s critical to inform the Internal Revenue Service (IRS) that you are moving abroad and to call our accounting team to make sure you’re prepared before you make the big move.

 

American Expatriates Tax Returns

 

A few things to remember before you become an expat: update your contact information with the IRS so they can properly send your refund or any future correspondence. You can update your address with the IRS by completing Form 8822, Change of Address at any time during the year. Failure to notify the IRS of an address change can be costly. For example it can keep you from contesting a lien for unpaid taxes. At Expatriate Tax Returns, we understand that planning for the big move abroad is challenging and there are already so many things to think about. We can help you alleviate the stress by walking you through this journey hand-in-hand. We’ve helped thousands of U.S. expatriates successfully transition to their new country and we’ll help you too.

No matter where you are in the process of your preparation for becoming an expat, call on us for trusted, professional assistance. There are some many wonderful advantages to being an expatriate, but it’s also a time full of important decisions to make. Here’s an easy one: Call ExpatriateTaxReturns.com today at 877-382-9123 or fill out the form on our Website. We’ll be with you every step of the way.

Expat Advice: Don’t Lose Your Passport

A new Federal law reported on in the Wall Street Journal, Bloomberg News and other publications allows for the U.S. government to deny new passports or revoke ones held by people with serious tax debts. Under this new law the State Department will block Americans with “seriously delinquent” tax debt from receiving new passports and will be allowed to rescind existing passports of people who fall into that category. The list of affected taxpayers will be compiled by the Internal Revenue Service (IRS) using a threshold of $50,000 of unpaid federal taxes, including penalties and interest, which would be adjusted for inflation.
Filing to the Internal Revenue Service from overseas is more confusing, complicated, and expensive than it is for Americans at home. Unlike almost every other country in the world, the U.S. demands its Expatriate citizens pay taxes on all foreign income. Expats must file even if they have lived and worked abroad for decades, and even if they’re already paying hefty taxes to the countries where they reside.
expatriates expats taxes irs passport
Now it’s getting worse. In an effort to fight tax evasion, the IRS recently began forcing expatriates to report not just their income, but additional information on savings and investments—rules that have made it harder to open bank and brokerage accounts overseas. More ominously, the IRS and the State Department are also implementing a provision approved by Congress in December that could revoke the passports of Americans who owe too much–raising the prospect of being stranded abroad on account of poor arithmetic.
In most cases, the passport provision would apply if a taxpayer is subject to a lien, which advises creditors of a debt to the IRS, or a levy, which gives the IRS the authority to seize assets. It wouldn’t apply if a taxpayer is in the process of resolving tax debt with the IRS, such as by paying it on an installment plan, or if the taxpayer is contesting the collection either administratively or in court, said David Kautter, a partner at the accounting firm RSM in Washington.
“Americans abroad need their passports for many routine activities of daily life, such as banking, registering in a hotel, or registering a child for school, and mistakes could be disastrous,” said Charles Bruce, an American lawyer with Bonnard Lawson in Lausanne, Switzerland, who advises American Citizens Abroad, an expatriate group.
It’s no secret that expatriate taxes are confusing and a big hassle to expats. Expatriate Tax Returns makes this entire process easier. Don’t allow yourself to error on your expat taxes, which now has even more serious repercussions like losing your passport. Call one of our tax professionals today at (877) 382-9123 to get the process started.

Love and Marriage: An Expat Married to a Non-U.S. Citizen

A recent article in the Wall Street Journal titled “Tax Life Can Be Complicated When You’re Married to a Non-U.S. Citizen” looked at the difficulty many American expatriates have when they are married to a spouse who doesn’t have United States citizenship. As if it wasn’t challenging enough to be an American citizen living and working abroad with Expat Taxes, these expats face an additional layer of complexity when they file their taxes.

 

 

The first question the article addressed is whether these expats should they file “married jointly” or separately. At Expatriate Tax Returns, we know that many of our clients faced this same confusion. There are advantages and disadvantages to the way you file, so it’s important to know what makes the most sense for you. There are significanttax implications for either situation.

Many expats need to know whether they can put bank accounts in the name of a foreign spouse and whether it is worth it to do this. Many of our clients also ask us about the Foreign Bank Account Report (FBAR), which was introduced by the IRS to battle offshore tax avoidance. The FBAR requires you, as a U.S. citizen abroad, to reportfinancial accounts held abroad. Additionally, you’ll want help determining whether your non-U.S. citizen spouse’s income should be included in your tax return. There also might tax implications based on how you file as it could move you into a higher tax bracket.

A lot of evaluation is required to know how best to handle the situation of an American expatriate filing expat taxes when married to a non-U.S. citizen who is also living and working outside of the United States. The best way to handle this is to allow tax professionals to handle these variables. At ExpatriateTaxReturns.com, no client is treated with a cookie cutter. We look at each client’s needs and situation before evaluating how best to handle their tax preparation and filing. The topic of expat taxes is always complicated, but we have the years of experience to handle it in the most professional, thorough and successful manner. Trust the professionals. Visit our website at www.expatriatetaxreturns.com and fill out the simple form for more information.t?sender=acmFiYmlqYW1AZ21haWwuY29t&type=zerocontent&guid=84fe91b0-7dfa-401c-9d12-50fd7e33e577