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What Are the Minimum Tax Filing Thresholds for American Expats?

Determining your tax obligation to the U.S. government when you live abroad can be tricky. Not only are expats expected to file tax returns just like any other citizen, but there are a number of additional forms that they must file to access the various exemptions,...

Residency Rules for Streamlined IRS Tax Amnesty Programs

The United States is one of two countries in the world that taxes based on citizenship instead of residency (the other being Eritrea). All citizens and residents of the United States are required to report and pay taxes on any income they make, regardless of whether...

What Taxes Do US Expats Have to Pay to the IRS?

A big mistake many U.S. expatriates tend to make is assuming that because they live outside the United States, they are therefore exempt from U.S. tax requirements. While this argument may seem to make sense on its face, the reality is actually quite the opposite. The...

Do You Need to File a US FATCA Form?

The purpose of the Foreign Account Tax Compliance Act (FATCA) is to prevent tax evasion by U.S. persons who have various assets and bank accounts stashed in foreign banks and institutions. You may have to file a FATCA form if the aggregate amount of assets and money...

Should You Renounce Your U.S. Citizenship for Tax Reasons?

Renouncing your citizenship is not an action that should be performed without weighing all of your options. Many individuals decide to renounce their citizenship for the possible tax benefits of being free from the complex annual filing system that the United States...
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