A Look at Penalties for Not Filing your Expat Tax Returns The number one question that runs through the “expat mind” at tax time is: what happens if I don’t file my US taxes? Would the IRS even notice? What are the consequences if I get caught? We are here to tell you what to…
The Benefits of Being an American Expat Living Overseas When you are given the opportunity to move abroad…consider it an adventure! And enjoy every moment. Prior to moving, make sure that you handle all of your business here in the states. Pay all of your bills, notify all of your creditors of your change in…
Foreign Accounts Tax Compliance Act (FATCA) In 2009, Swiss banks reported earnings to all American Citizens with offshore accounts. As a result, UBS paid $780 million to the Internal Revenue Service. Since then, more international banks have provided income information about American Citizens and Green Card Holders with foreign accounts to the IRS than ever…
HOW TO GET COPIES OF YOUR PREVIOUSLY FILED TAX RETURNS As a US Expat, you will need a lot of important tax documents in order to file your tax return. Top on the list is a copy of your last year’s tax return. The chore of finding any past tax documents can be discouraging as…
The “A” word – I’m being AUDITED, now what?! The “A” word may be in the top 10 of scariest words ever! Am I in trouble? Was I flagged? Not necessarily. Some reasons your return could be picked for an audit include: random sampling, computation errors, computer screening, excessive deductions, and large charitable contributions. Respond…
Expat Tax Preparation Made Easy Dealing with a tax preparer for your expat tax return can feel overwhelming. Knowing what documentation you will need to provide will make it easier for you. You can use this as a guideline for information to save. The Questionnaire – Your tax professional will ask you to provide the…
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