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What’s Happening in the World of Expat Taxes?

Foreign Earned Income Exclusion

May 13, 2020
Expats who are living and working abroad need to pay U.S. taxes on their earnings. However, the matter can be confusing since expats are also taxed by their country of residence. So individuals are not taxed twice on the same income, the IRS allows expats to exclude foreign earnings, provided they meet certain criteria.
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Reporting Foreign Rental Income

April 14, 2020
The U.S. treats foreign rental properties in the same manner it treats domestic rental properties — when the property in question is owned by a U.S. citizen or green card holder. Expats who invest in rental properties while living abroad must report earned rental income on U.S. taxes. The matter can be confusing since there are many intricacies, depending on the country where the property is owned.
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Foreign Money

Foreign Bank Account Reporting Requirements

June 3, 2019
The U.S. requires citizens to pay taxes on money they earned, even if they are living overseas. This simple truth also applies to foreign assets, including foreign bank accounts. Learn when expats are responsible for reporting foreign bank accounts and other assets, foreign bank account reporting (FBAR) filing requirements, and how Expat CPA can help.
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