Why Americans living in Australia must file tax returns in both countries?
Are there any serious mistakes that Americans make when they initially move to Australia? Most assume that they never have to file a U.S. tax return once they move offshore to work because they are also paying taxes in their new place of abode. We find that by the time expats in Australia approach us, […]
Australian Superannuation Reporting Explained
Do I have to report it as a Foreign Trust on IRS Forms 3520 and 3520-A? Americans living and working in Australia typically have contributions made to their Super accounts by their employees. However, there may be some confusion about whether they must declare these to the IRS. These revenue procedures can be quite annoying […]
Do I need to file a tax return if I live in UAE?
AM I ELIGIBLE FOR FOREIGN EARNED INCOME EXCLUSION? Learn from Tanveer Mannan, a highly experienced IRS Enrolled Agent based in Dubai. Having worked at EY and PWC before joining EXPAT US TAX, Tanveer has 15 years’ experience of helping Americans get the correct advice when they come to work in UAE. Getting the correct tax […]
Who needs to file IRS Forms 3520 and 3520-A for their TFSA and RESP?
U.S. citizens and residents can legally create foreign trusts. Transactions from these and from any other worldwide income must be taxed in the U.S. according to the tax laws. If they fail to declare these on their tax filing, there are consequences in the form of penalties. However, for many Canadians who have Registered Education […]
How does the streamlined tax amnesty program work?
If you are a U.S. citizen who has been living abroad for some time, you are probably filing local tax returns but may have forgotten that you are required to file tax returns in the U.S. If so, you can correct this unintentional blunder so you can avoid having any serious consequences later on. Enrolled […]
Common Questions About U.S. Citizenship Renunciation Answered
If you are one of those U.S. citizens who have a long-term commitment in another country and feel that you need to renounce your U.S. citizenship, then you must ensure that you handle the process properly, especially your tax requirements. Roan is a tax professional with particular experience in the renunciation process, she helps to […]
Transition and GILTI Tax on Foreign Business Income Explained
Let’s pretend it is 2017 again (yes, we know it’s 2020). Congress has just passed The Tax Cuts and Jobs Act (TCJA). making several significant changes to the individualized income tax on foreign businesses. As an American with interests overseas, how does this affect you? How will you handle it in the future? The TCJA […]
Renouncing your US Citizenship an Expat’s Insight
They say home is where the heart is. It is more than just a shelter, it’s where we love, where we can be ourselves, and it’s where life happens. It’s a big world out there, and for some U.S. citizens, home has been found in an unexpected place, abroad. There are many reasons why people […]
Frequently Asked Questions about Renouncing Your U.S. Citizenship
Renouncing your U.S. citizenship is a purposely complicated process that intimidates many people from completing the process. At Expat US Tax, we can assure you that renouncing your U.S. citizenship is not as complicated as it may seem. With enough strategy and planning, you can successfully renounce your U.S. citizenship and be free of headaches […]