The IRS typically taxes contributions to foreign plans, the income that has been generated in those plans (growth) but has not yet been distributed, and payouts from such plans. The […]
Reporting Requirements for Foreign Retirement Plans: Issues and Solutions Read More »
The new changes to US federal tax laws impacts expats filing their 2021 tax returns in 2022. The standard deduction for married couples filing jointly for tax year 2021 has
Some US Tax Law Changes Impacting US Expat Taxpayers Read More »
U.S. Expat Taxes are determined under U.S. tax rules, not those of a foreign country. The variations between what is deductible in one country versus another can sometimes result in
It is on my foreign tax return, so I can take this deduction Read More »
Americans overseas can reduce their US tax burden using the foreign earned income exclusion, the foreign tax credit or a combination of both. This year, for example, claiming foreign earned
What are the IRS exchange rates for Americans living abroad? Filing your expat taxes generally means converting your foreign income into US dollars. To do that, you need to understand
What are the IRS exchange rates for Americans living abroad? Read More »
Filing a US tax return while living abroad can be stressful and expensive. When I first came across this idea, I found it surprising, but finally understood how frustrated American
My passport or Green card has expired, so I do not have to file my expat taxes any more? Read More »
This is not like this! Legal foreign marriages are recognized by the US. A US citizen with a foreign spouse is therefore married for US tax purposes and is even
I got married abroad, So I am still single because my spouse is foreign? Read More »
If you are required to file Form 8938, you must report your financial accounts maintained by a foreign financial institution. The following are considered reportable under the code: Financial accounts
Form 8938, statement of Specified Foreign Financial Assets Read More »
Required to be prepared and filed if you qualify for either physical presence test or Bona fide residence, exclusion amounts changes every year. For example, it was $105,900 in 2019
Form 2555. Foreign Income Exclusion Read More »
