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How Do I Report Foreign Inheritances to the IRS?

Receiving an inheritance isn’t always simple, especially when it’s from a foreign relative or loved one. That being said, foreign inheritances do have an upside; they’re non-taxable, depending on certain variables. Despite that fact, you still need...

Do Green Card Holders Pay Taxes on Foreign Inheritances?

Getting your green card is exciting. It provides an opportunity to explore the United States and become a member of the global community. That being said, learning how the U.S. Tax Code applies to you can be confusing. Taking it step by step can make it easier to...

Do You Need to Report a Foreign Inheritance to the IRS?

Receiving an inheritance doesn’t mean you can just transfer a large sum of money to your bank account, especially if you’re an American expatriate. While you might not be taxed on a foreign inheritance, you will most likely need to report it to the IRS....

What Can Happen if You Do Not Report Crypto Gains on Form 8938?

Cryptocurrency has become a popular way of increasing personal wealth across the world. For American citizens living domestically and abroad, crypto gains must be reported over a certain amount, even if it’s held or acquired outside of the United States. But...

How Does a Mid-Year Move Abroad Affect US Taxes?

Whether you want to travel or you got a professional opportunity you can’t refuse, you might consider moving overseas. However, things can get overwhelming once you start thinking about logistics and complications, like taxes. Before you move abroad as an...

What Is IRS Form 8938?

Regardless of where they live, American citizens must file taxes in the United States. That includes American expats who retain their citizenship. Because of this, it’s important to understand the various additional forms expats are required to file regarding...
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6 Common Taxpayer Mistakes