How FBAR Penalty Rules Affect Your Foreign Investments
Discover how fbar penalty rules could hit your foreign investments and learn smart tips to protect gains.
Avoid Costly Mistakes with These US Expat Tax Filing Guidelines
Follow us expat tax filing guidelines to stay IRS compliant and avoid costly mistakes when filing abroad.
Avoid Penalties with Accurate US Expat Tax Documentation
Ensure your U.S. expat tax documentation is accurate to avoid IRS penalties and maintain compliance abroad.
Avoid Penalties by Knowing IRS Reporting Requirements for Expats
Ensure your compliance with IRS reporting requirements for expats and avoid costly penalties abroad.
Form 8854: Initial and Annual Expatriation Statement
In the past few years, there has been an upsurge in US citizenship renunciations. In a recent Forbes article[i], between 2005 and 2009, less than 2,500 people renounced their citizenship. Between 2010 and 2020, this number went up to 36,840. The reasons behind such renunciations could be political or personal and irrespective of the reasons [...]
Common mistakes of self-prepared tax returns when living abroad
Filing a tax return is crucial especially when you are a US citizen or resident alien living abroad. The filing process requires increased compliance with US tax laws of which the burden is placed on the shoulders of a taxpayer. To determine if a taxpayer needs to file a tax return, they may use the [...]
Penalties to watch out for
Having to file tax returns every year can be challenging and painful. But what’s worse? The IRS can penalize you for all sort of reasons and it can cost you a great deal of money and time to resolve. Here is a list of penalties that are most encountered by taxpayers. Penalty for Not Filing [...]