Taxes for Travel Nurses
Being a travel nurse is such a wonderful opportunity. It allows you to do what you love while exploring different cities. However, travel nursing comes with a different tax implication that could be quite a challenge when preparing for US tax returns. Typically, travel nurses are required to file for a resident state tax return […]
5 Things to know about FBARs
Aside from the annual income tax return filing, US expats must also be aware of the FBAR filing requirement, especially if they have non-US financial accounts. Failure to file for this form could lead to serious penalties so it is important to know what needs to be done if you need to file one. We […]
Tax Extensions for Americans Living Abroad
It’s important for US expats living abroad to know that many of the tax filing deadlines and available extensions differ considerably compared to filing within the US. The following is a chronological listing of the filing deadlines and extensions applicable to US expats over the course of the tax year. April 15th – Federal Income […]
What Is Included in the American Rescue Plan?
The American Rescue Plan Act of 2021 (ARPA) is the most recent US government Coronavirus relief package, consisting of $1.9 trillion of comprehensive economic assistance to individuals, businesses, and state and local governments. This article will cover the key provisions of ARPA which impact American expatriate taxpayers and their families. The Third Stimulus (Economic […]
How to File an Amended Return
You’ve already filed your federal tax return, but then you realize you mistakenly left out some income you received, or forgot a deduction that would help your bottom line, left out a form, or filled one out wrong. What can you do about it, after the fact? Not to worry – the IRS offers a […]
FAQs About IRS Streamlined Filing Compliance Procedures
What Is The Purpose of The Streamlined Filing Compliance Procedures? The IRS Streamlined Filing Compliance Procedures are intended to bring delinquent taxpayers back into annual compliance with their US tax reporting responsibilities by filing their delinquent returns for a certain number of tax years, reporting their worldwide income and disclosing their foreign assets, accounts and […]
What Are FBAR Reporting Requirements?
Most US expats are aware that they may have an ongoing requirement to file US income tax returns yearly, if they earn income abroad. However, there is a less well-known US requirement to file what is known as a Foreign Bank Account Report (FBAR), for which many expats with foreign financial accounts are responsible. Failing […]
What is FATCA Reporting & Am I Subject To It As an Expat?
You may have heard the term FATCA, and know that it relates somehow to increasing IRS and Treasury Department tax compliance efforts against tax evasion by US taxpayers holding financial accounts and other financial assets abroad. You may be wondering whether (and how) FATCA might affect you personally as an expat taxpayer, even though […]
Do US Expat Taxpayers Have to Continue Paying US Taxes While Living Abroad?
As a US expat living abroad, are you unsure whether you need to continue to file US federal tax returns and pay US federal taxes? Despite what you may have heard, the answer is yes – US taxpayers residing abroad and earning foreign-source income still have an ongoing requirement to file their US returns […]
Back Taxes For US Expats – How Many Years Back Can You File?
It’s quite common for US expats to fall behind in filing their US tax returns while living abroad – whether thinking they no longer need to file, since they’ve established residency in another country paying taxes there, or simply being busy trying to adjust to a completely different culture, living and work environment abroad. However, […]