As almost everyone knows today, most US citizens and green card holders are required to file an annual tax return on their worldwide income, whether or not any tax is owed (see page 7 of the 1040 Instruction booklet for the minimum filing thresholds).  No one likes paying taxes but the law is the law (until it is changed!), and...

As a non-partisan organization representing the interests of all overseas Americans, FAWCO supports all efforts to eliminate or alleviate the damaging effects of FATCA. Since the very early days of FATCA, FAWCO has supported the “safe harbor” concept, which would eliminate the accounts held by overseas taxpayers in the country where they are fiscally domiciled from FATCA reporting. FAWCO's concern...

In a letter to their colleagues in the House of Representatives, Americans Abroad Caucus Co-Chairs Carolyn Maloney and Mick Mulvaney are urging the Treasury Secretary and the IRS Commissioner to adopt the recommendation of National Taxpayer Advocate Nina Olson regarding simplifying FATCA reporting requirements for Americans abroad.

On April 13, the Taxpayer Advocate recommended eliminating from FATCA reporting all accounts held...

US expats are often concerned about the dreaded dual-taxation when filing US taxes. But thankfully, the US has put into place several deductions and exclusions to help reduce that possibility. So we have outlined the top 3 ways to save on your US expat taxes!

1. The Foreign Earned Income Exclusion (FEIE)
This is the most common way US expats...

Staying Compliant with Your US Expat Tax Obligations

On April 13, National Taxpayer Advocate Nina Olson issued recommendations fully in line with those of the AARO-FAWCO position paper in March 2015 with respect to financial account reporting and the “same country exception” that we have advocated for several years.

Specifically, Ms Olson recommends that:

·       filing of FATCA Form 8938 not be required of taxpayers who have timely filed FinCEN...