Generally, yes. As a US citizen, you typically must file a US tax return each year to report your worldwide income and foreign financial assets. This is true even if you live outside the United States and even if you pay foreign taxes on [...]

You may have heard about the Foreign Earned Income Exclusion (FEIE), which allows expats to shield more than $100,000 of salary or compensation from US tax each year. There are two ways to qualify for the FEIE. Under the Physical Presence Test (PPT), you [...]

Very! The IRS sees the fines and penalties associated with these reports as easy money. Unfortunately, many expats and online expat tax providers miss these forms or get them wrong, and the IRS knows it. See our Foreign Asset Reporting [internal link services/foreign asset [...]

In recent years, the IRS has become more sophisticated in uncovering foreign assets that have not been reported. In 2018, the IRS consolidated its data from years of foreign asset audits and is now using advanced data analytics to focus audits on Americans who [...]

This is a big decision— and one that should be carefully planned from both tax and immigration perspectives. On the tax side, you will need to file specific forms to end your tax obligations. It is not enough to give up your citizenship. Instead, [...]