An Amnesty Program provides qualifying taxpayers with an opportunity to avoid penalties and fees by coming into compliance. Typically, such programs require delinquent taxpayers to pay back an agreed lump sum which, once paid, forgives certain tax liabilities accrued from …
New IRS Relief Procedures for Certain Former Citizens
New procedures from the IRS are now in force. The Relief Procedures for Certain Former Citizens were announced on 6 September 2019. They allow a certain class of former US taxpayers, who have abandoned their citizenship, an opportunity to become …
Will the newest royal baby have to pay US taxes
The newest member of the royal family, Archie Harrison Mountbatten-Windsor was born as the seventh in line to the British throne. He’s also considered a US citizen, as his mother has yet to gain UK citizenship. As such, he joins …
Expat Taxes 101: How to file a State Tax Return
As an expat you are regularly reminded that you need to file a Federal Tax Return each year in order to stay compliant with the IRS. Of equal importance and often overlooked, expatriates also need to file state tax returns. …
Time to complete your US Expat Taxes – US tax deadlines
Just like taxpayers living in the United States, expats living and working in another country as a U.S citizen are also required to file U.S tax returns and pay any taxes due.
2018 Tax Year Deadlines
If you’re living abroad, …
Tax Compliance for US Expats
Approximately nine million people from the United States live overseas. This figure was released by the Department of State in 2016 as the closest estimate at the time. The number increases constantly, and the total number of US expats is …
3 Tax laws US expats need to know
For US citizens wanting a long-term change of scenery, the UK is a popular destination. However, thanks to a complex US tax system that taxes its citizens and green card holders when they live and work in different countries, it’s …
The mismatch in UK and US taxation of rental property income
Changes to the UK taxation of rental property are increasing the taxes on an individual’s rental and for US persons, taking the UK and US tax treatment further apart. The UK will now only allow limited tax relief for mortgage …
The US taxation of a mortgage foreign exchange gain
For US tax payers living overseas, the redemption, re-arrangement or capital repayment on a mortgage that is not denominated in USD can result in gains being realised and US tax becoming due with their Federal tax return. This is because …
Expatriation: More Americans renounce US citizenship but why?
A record number of Americans renounced their US citizenship last year, what we call expatriation, but should this be surprising, as more and more US persons find out about their filing obligations and the complexity involved. I suspect the greater …