Category: FATCA for Expats
Form 8938 and Form 8621: Revealing 4 Key Differences Expats Need to Know to Avoid Mistakes in Filing
Apr 19, 2022
Filing taxes as an American living abroad can be confusing and challenging. Knowing the correct forms to use and how to fill them out correctly is as crucial as learning how to file…
Here’s How the IRS Actually Finds Out If Expats Are Tax Compliant
Feb 15, 2022
With the tax gap widening, the IRS has implemented different tactics for this massive undertaking to crackdown on taxpayers who habitually find a way to cheat the system. Let us examine the tax…
Do I Need To File Form 8938? What This Is And How To For 2022
Jan 04, 2022
Form 8938 is part of the Foreign Account Tax Compliance Act or FATCA. It is a form that discloses accounts and assets held in other countries outside of the United States. If you…
7 Answers to FAQs About IRS Form 8938 — Valuable Info Expats Need To know
Jan 03, 2022
The IRS Form 8938 is one of the most important forms you must complete as an expat. If you're unsure what IRS Form 8938 is or how to file it, don't worry; this…
How To Report Foreign Financial Assets | Better Avoid Risky Penalties
Oct 08, 2021
Overview Of Foreign Financial Asset Reporting Section 6038D of the Internal Revenue Code (IRC) requires any individual with interest in a specified foreign financial asset during the tax year to attach Form 8938,…
Common Tax Mistakes U.S. Expats Should Avoid
Mar 09, 2021
Taxes can be confusing, but you still need to file them even if you live abroad. Here are the most common tax mistakes U.S. expats make and how to avoid them.
Why Filing Taxes Is So Complicated for U.S. Expats
Mar 09, 2021
As an American citizen living and working abroad, the complicated task of filing taxes can be on a whole 'nother level.
What Is FATCA? Practical Info Expats Need To Know
Feb 27, 2021
What is FATCA? The Foreign Account Tax Compliance Act, or FATCA, is a law that was enacted in March 2010. The purpose of this act is to prevent tax evasion involving offshore accounts.…
Court Authorizes Service of John Doe Summons Seeking the Identities of U.S. Taxpayers Who Have Used Debit Cards in Furtherance of Tax Evasion
Jan 29, 2017
Today a federal court in Montana unsealed an order authorizing the Internal Revenue Service (IRS) to serve a John Doe summons on Michael Behr of Bozeman, Montana, seeking information about U.S. taxpayers who…
Merrill Lynch Closing Brokerage Accounts for US Expats – Important Info Expats Need To Know
Dec 27, 2016
Merrill Lynch has recently been sending letters to many of their US citizen clients living outside the USA saying that their accounts will be closed as of a certain date in the very…