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Reporting Foreign Inheritance with Form 3520
After receiving a foreign inheritance, you may not even consider your IRS reporting requirements. However, depending on the value of your inheritance, you may be required to report it to the IRS using Form 3520. American citizens and resident aliens who receive a...How to Change Tax Residency When Moving Overseas
Moving overseas is exciting but also presents challenges – tax-related challenges. To make tax season easier as a U.S. expat, it’s important that you change your tax residency status. But how can you do that? In order to change your tax residency status,...Do Foreign Citizens Living in the US Pay Inheritance Tax?
As a foreign citizen living in the U.S., it’s important to understand your tax liability in various scenarios. For example, suppose you just received an inheritance. Does that mean you must pay federal or state taxes as a resident alien living in the United...Top Audit Risks for US Expats
As an American citizen living abroad, you’re already at a higher risk of getting audited by the IRS. It benefits expats to learn why that is and how to lower their risk of being audited. Simply living abroad and being responsible for completing certain tax forms...FIRPTA Withholding Exemptions for International Real Estate Transactions
If you’ve recently purchased a home from a foreign person, you might have to withhold taxes from your disposition. Sometimes, homeowners are exempt from these requirements, so it’s important to learn whether or not you are. The Foreign Investment in Real...