Foreign trust or form 3520 is one of the latest tax puzzles for Americans living abroad. American expats face an increasing complexity of US expat tax returns. Many expats are familiar with foreign income exclusion, foreign housing exclusion and foreign tax credit. However, they don’t realize that the highest penalties...
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Expat Guide
Tax Due Dates for Americans filing Expat Tax Returns
The tax season is around the corner. American expats living and working abroad have to file US expatriate tax returns and to report their foreign financial accounts on FBARs every year if they meet the expat tax requirements. The IRS has issued a list of US tax filing deadlines. US...
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US Expatriate Tax Returns and Filing Requirements for Americans Abroad
More Americans living abroad realize that they have to file US expatriate tax returns. FBARs, FATCA global reach and the Department of Justice investigation of foreign banks have spread fears among American expats across the globe. There is a lot of confusion about the filing requirements. The key misconception is...
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Social Security Taxes and Americans Living Overseas
Millions of US citizens retire abroad and this number has grown over 500% in the past 40 years. Retirees can receive social security benefits abroad. For some retirees residing abroad this is the only source of income. Consequently, American expats wonder about social security taxes. This is an email from...
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American Tax Return: Live Abroad and Relocation Costs to the USA
American expats who live abroad might decide to come back to the USA. Earlier we discussed that Americans can deduct moving expenses if they move for a new job and meet two other tests. However, some groups of American expatriates can deduct relocation costs on American tax returns when they...
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