I was recently asked about the tax problems faced by Americans who move overseas. Unfortunately, there are many US tax difficulties faced by Americans abroad. In order to make some sense of this vast topic, let's put the major problems into several basic categories. Once aware of the problems lurking out there, you can get … Continue reading Before You Think of Becoming an “American Abroad”, Read This….
One Country, Two Citizenships: John Richardson Interviews Virginia La Torre Jeker. Most people don’t know that the US has two kinds of citizenship – “Immigration” citizenship and “Tax” citizenship. Tax citizenship, the monkey on your back, is hard to shake off! Watch the interview, here. http://www.youtube.com/watch?v=4Kq94qCiNSY https://www.youtube.com/watch?v=
People from countries all over the world apply for US permanent residency status, informally known as obtaining a “green card”. Nowadays, however, many US green card holders are questioning whether to continue holding the green card. The number of individuals who are renouncing their US citizenship or relinquishing their long term permanent resident status (this … Continue reading Giving up Your US Green Card – Make Sure It is Done Correctly or Pay the Price!
My blog post reproduced below was originally posted on AngloInfo "Let's Talk About US Tax" on December 30, 2013 by Virginia La Torre Jeker J.D., Today’s blog post is yet another interview that provides valuable insight from Willard (Bill) Yates, who recently retired from the Office of Associate Chief Counsel (International) (ACCI), Internal Revenue Service after 31 years … Continue reading If You Go, You Can’t Come Back. The Reed/Schumer Follies-Past And Proposed Anti-Expat Legislation: Interview With Bill Yates, Former IRS Attorney (International)
The Financial Crimes Enforcement Network (FinCEN) had earlier issued an announcement reminding of the due date for filing the 2017 FinCEN Form 114, Report of Foreign Bank and Financial Accounts (the notorious “FBAR”). The 2017 FBAR relates to foreign financial accounts held at any time during the calendar year 2017. In line with the change in … Continue reading FBAR “Last Chance” Due Date Soon Here – What to do with Virtual Currency?
A lively discussion is set to drum up support to convince US lawmakers to end America’s increasingly-unpopular “citizenship-based” tax regime. The meeting will take place in London next week. When: Tuesday 18 September 2018 - 17:30 to 19:00 Where: Central London location – to be confirmed upon RSVP (nearest tube: Westminster) Venue: To be provided upon RSVP (nearest … Continue reading Americans Abroad: Sept 18, LONDON – Push to End Citizenship-Based Taxation
Part I of my blog post explained the basics of community property and how US tax laws can override certain community property principles when a US/NRA married couple is involved. This was followed by a blog post posing a smattering of real-life examples that demonstrated how community property laws can impact the US tax situation … Continue reading MORE Real Life Examples: US Tax Traps of International Community Property
Attention all mixed nationality couples, with one spouse having US citizenship or US resident status while the other is a nonresident alien (NRA)! Your tax advisor should be looking at all possible issues surrounding your fact pattern. If you live in a foreign jurisdiction or US state (there are 9 of them) with a community … Continue reading Real Life Examples: A US Tax Mess, International Community Property
Everything you need to know about US tax is right here at your fingertips! My primer provides information for overseas Americans and green card holders on US tax obligations including Income Tax, Estate Tax and Gift Tax as well as IRS reporting requirements and State income tax. It also provides detailed information for foreign individuals … Continue reading Tax Primer: US Expats & Foreigners
I have blogged extensively about the US tax problems faced by Americans living and working overseas (for example, see my posts here, here and here). There is a possibility that the US Congress may introduce, debate and vote upon a bill that may ease the US tax burdens placed on such overseas Americans. A bill … Continue reading Americans Abroad – May Legislative Relief Be Forthcoming?