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How Do I Fill Out IRS Form 3520?

As the owner of a foreign trust or the recipient of foreign gifts, you must know how to report such information to the IRS. Learning how to fill out IRS Form 3520 is crucial so that you don’t face steep financial penalties. When filling out IRS Form 3520,...

Does the IRS Target Expats with Coinbase Accounts?

Expats with Coinbase accounts need to know that they are accountable to the same reporting guidelines as U.S. residents and, in some cases, additional rules. Because of that, expats can sometimes get more easily targeted by the IRS for issues reporting their Coinbase...

Tax Consequences of an Inheritance from Relatives Overseas

If you receive an inheritance from a relative overseas, you may think federal and state taxes don’t apply. However, getting a foreign inheritance isn’t always simple for American recipients and can have consequences. When you receive an inheritance from...

The 2022 Corporate Transparency Act Explained

Soon, reporting requirements for corporations are likely to change once the 2022 Corporate Transparency Act (CTA) goes into effect. When that time comes, it’s important for American companies, foreign and domestic, to know how to comply. When the Corporate...

How to Use the Foreign Earned Income Exclusion on Your Taxes

Lowering your tax liability is always appealing, especially if you face paying dual taxes as an American expatriate. Luckily, expats can use the Foreign Earned Income Exclusion on their taxes, provided they meet the necessary criteria. The Foreign Earned Income...

Is United States Military Pay Taxable When Living Abroad?

Serving your country by enlisting in the United States military is extremely honorable, but it doesn’t change your tax obligations. Whether you’re stationed in the United States or are living abroad as a member of the United States military, you’ll...
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6 Common Taxpayer Mistakes