In the press you hear stories of the IRS revoking passports, but in reality, this does not appear to happen as often. Is it just an empty threat to encourage people to file their returns or is this something that is actively happening? Have you had anyone come to you that has had problems getting […]
How can I claim the Foreign Earned Income Exclusion as an American expat in Dubai?We spoke with Emmanuel, who has over 9 years of U.S. expat tax experience.
GILTI stands for Global Intangible Low-Tax Income. It is a tax that was introduced in 2018 by the IRS on a foreign company’s net profits, when the company is based outside of the US, but owned by a US citizen. It was put in place in order to dissuade companies from moving their company’s assets […]
We hear from Tanveer – a highly experienced EA for 13 years – and provide clarity on AGI, who can receive Stimulus Payments, and what the process is. Many Americans living abroad assumed they wouldn’t be eligible, but they are, and a lot more people can receive the stimulus payments than many think. What is […]
Where can I start if I want to undergo the Repatriation process? We spoke with Tyron, who has over 9 years of U.S. expat tax experience, to provide clarity and advice on how to best organise your repatriation to the U.S.
How do I know if I have a Passive Foreign Investment Company (PFIC)?We spoke with Aya, who has years of experience handling PFICs and expat taxes. A PFIC occurs when a U.S. person invests directly or indirectly into a Passive Foreign Investment; such as a non-U.S. mutual fund. Federal Income Tax and Reporting Requirements. When […]
We spoke with Emmanuel, who has over 9 years of U.S. expat tax experience, to provide clarity on the Foreign Housing Exclusion and the different ways you can qualify. For expats moving to high-cost cities such as Dubai, the significant housing expenses must be taken into consideration. In addition to the Foreign Earned Income Exclusion, […]
What is exit tax and who pays it? Exit tax is a final tax payment for people who are renouncing their US citizenship, and essentially looks at all untaxed assets and creates a final lump sum, that is then paid to the IRS. Exit tax applies to expatriates of the United states, which usually means […]
What is a TFSA? A TFSA, or tax free savings account is different to other savings accounts that exist because it can be an investing account as well as a savings account, and allows for the money made on it to be tax free. However, for American expats living in Canada, this is actually not […]
Filing a foreign trust form 3520 and 3520-A for a Tax Free Savings Account US citizens living abroad can legally create tax free savings accounts, also known as a TFSA in Canada. A big question for many American expats living in Canada is whether they need to file for the IRS forms 3520 and 3520-A as […]
We approached Seth, who has 29 years of experience in handling expat taxes for people who are heading either way between Australia and America, to answer a few questions about tax commitments for Americans living in Australia.
AM I ELIGIBLE FOR FOREIGN EARNED INCOME EXCLUSION? Learn from Tanveer Mannan, a highly experienced IRS Enrolled Agent based in Dubai. Having worked at EY and PWC before joining Expat Tax Online, Tanveer has 15 years’ experience of helping Americans get the correct advice when they come to work in UAE. Getting the correct tax […]