The U.S. Taxes You No Matter Where You Live
The U.S. is one of two countries in the world that taxes its citizens on worldwide income regardless of where they live or work. If you’re an American abroad, you still owe a return every year and the foreign filing requirements that come with it are where most expats fall behind. FBAR penalties start at $10,000 per unreported account per year. Those aren’t audit penalties. They’re automatic. Most expats don’t realize how exposed they are until it’s already expensive to fix.Getting It Right Saves You Money
There are two primary ways to eliminate double taxation: the Foreign Tax Credit and the Foreign Earned Income Exclusion. They produce different results depending on your income level, the country you’re in, and your long-term plans. Choosing the wrong one can cost thousands. We run both scenarios and apply the position that saves you the most. We also handle:
- State tax domicile analysis (some states continue to tax you after you leave)
- Foreign pension and trust reporting
- FATCA compliance (Form 8938)
- Social security totalization agreements
- Self-employment income earned abroad
Behind on Prior Years
If you’ve missed prior years, Streamlined Filing Compliance is designed for exactly this situation. It lets expats come forward, file missed returns, and avoid standard penalties. The IRS is more lenient when you come forward voluntarily. That window doesn’t stay open forever, and the longer you wait, the narrower it gets. We handle the full submission and get you current.What We Handle
- Expat Form 1040 with Foreign Income
- Foreign Tax Credit (FTC) Optimization
- Foreign Earned Income Exclusion (FEIE)
- FBAR Filing (FinCEN 114)
- FATCA Reporting (Form 8938)
- Streamlined Filing Compliance (Offshore)
- Foreign Pension & Trust Reporting
- State Tax Domicile & Severance
- Self-Employment Tax for Expats
- Social Security Totalization Agreements