Expat Finance

The Foreign Account Tax Compliance Act (FATCA) has allowed governments to crack down on people trying to avoid their tax liability. Governments around the world are working together to make sure you're paying the taxes you're supposed to. Most financial institutions are reporting financial data to their governments, who are turning information over the IRS. It's best to not avoid your taxes - simply ... Continue Reading

While renouncing citizenship has become a popular thing to do, you should know it doesn't automatically help you avoid US taxes. In order to renounce, you must prove that you've been compliant on the last five years of US taxes. Also, depending on your income and net worth, you may be subject to an 'exit tax' when you renounce. ... Continue Reading

The audit time period recently changed from three years to six years, so it's important to keep accurate records and documentation during this time frame. ... Continue Reading

If you have any ties to the state, like mortgage payments on property, a state driver's license, voter registration, etc., you may be responsible for filing state taxes until and unless you can prove residency in another state. This varies by state, so be sure to review your state's tax guidelines. ... Continue Reading

Currently, the FBAR is due June 30, 2016 for the 2015 filing year with no filing extensions. Beginning next year, the deadline is moving to the same day as Tax Day - April 15th - and you'll have the same filing extension options as you do for your tax return. You'll receive an automatic two-month extension if you're living overseas on April 15th, and may request an extension up until October 15th.... Continue Reading

There are two types. The first is the Physical Presence Test, which requires that you are physically present in a foreign country for 330 of any 365-day period. The second is the Bona Fide Residence Test, which requires you to have lived overseas for at least one calendar year and have no immediate intention of moving back to the US.... Continue Reading

You must report your Social Security benefits as income on your expat tax return. Generally, if you have other income, your benefits will be taxed. If they are, only 85% of your benefits can be considered taxable income.... Continue Reading

If you're considering retiring abroad, you'll be able to collect your Social Security benefits in just about any country in which you choose to live. There are just a few countries where you cannot receive your benefits - but you can always collect all monies owed to you when moving to a country that allows US Social Security payments.... Continue Reading

If you didn't realize you needed to file your expat taxes or FBAR forms, the IRS has an amnesty program you may use to catch up on your filing. The Streamlined Filing Procedures allows you to become compliant with no late filing or FBAR penalties. Simply file the past three years of tax returns and last six years of FBAR forms. ... Continue Reading

If you're living outside the US on Tax Day (April 15th), you have until June 15th to file your expat taxes. It's important to note, though, if you owe taxes, the amount owed is still due by April 15th. Any taxes owed will accrue interest until you make the payment. ... Continue Reading

It's time for U.S. expats to explore what they'll need to file properly for the 2016 tax year. David McKeegan of Greenback Expat Tax Services offers tax bracket information and others facts you need to know.

Cody Moore discusses FATCA and other reporting requirements for US expats including FINCEN Form 114, Form 8938, Form 5471 and Form 8865.

Expat tax expert David McKeegan explains why June is such an important month for U.S. expats. From expat tax returns to FBAR, find out why you can't let the sixth month of the year sneak up on you!

Cody Moore discusses FATCA and other reporting requirements for US expats including FINCEN Form 114, Form 8938, Form 5471 and Form 8865.

Whatever your reasons for wanting to live overseas and enjoy a global lifestyle, one thing you can still count on, is that you will have to manage your finances. Lisa R. Mitchell discusses financial tips for expats.

David Kuenzi explains how to properly incorporate currency considerations into a sound, long-term investment strategy is much easier than commonly understood.