US tax filing is underway, and as we approach the April 15 deadline we would like to offer additional tax updates and information for US expatriates. The first and most important thing for US expatriates to know about taxes is the United States taxes the worldwide income of any US...
Estate and Tax Planning for US Expatriates
What are the most important elements of estate and tax planning for US expatriates? Are you planning to move out of the United States? Are you a US taxpayer who lives and works outside of the country? What are some of the key issues you need to be aware of?...
Serious Challenges for Expats and Those Considering Expatriation
The world is an ever-changing ever-evolving crucible of financial challenges for US expats. The implementation of the Foreign Account Tax Compliance Act or FATCA generated significant issues for US citizens and former citizens who live abroad. The serious challenges for expats and those considering expatriation as well as foreign...
“That’s It, I’m Out of Here!” Tax Consequences of Leaving the US
Over the past decade, a record number of US citizens have decided to live and/or work abroad. What are the tax consequences of leaving the US and what are a few things you should think about if you are considering it? It is important to understand that the United States...
Are US Expats Facing a Tax Increase as a result of Tax Reform
While the details of the tax reform passed last year are still being unpacked, are US expats facing a tax increase as a result of tax reforms passed last year? The United States is one of the only countries in the world who taxes US taxpayers based upon global income, no...
US Expats a New IRS Target for FBAR Violations
What makes US expats a new IRS target for FBAR violations and undisclosed offshore assets? The IRS is instituting a new whistle-blower campaign for those who might help US expats and other US taxpayer clients. Allen Barron provides attorney-client protections for those who are working on the disclosure of foreign...
Should US Expats Own Foreign Mutual Funds
US expats have been under some extreme hardships as a result of FATCA and the requirements to provide clear documentation of the "beneficial ownership interest" in all of their offshore bank and investment accounts. This allows the IRS to track specific accounts, transactions and balances to the unique social security...