What should American expatriates know about Obamacare?

Diane from www.expatriatetaxreturns.com joined us to answer the most common questions about American expat tax obligations. Watch the full session on YouTube.

With the June 15th Expat Tax Deadline Looming, The US Government is Lending you a Second Chance at Compliancy. With the IRS’s focus on US expat taxes on the rise, Americans living abroad should take advantage of a second (and maybe last) opportunity to become compliant.

U.S. tax rules are unfortunately particularly complicated.  Special rules apply to Americans living abroad, which can make US expat taxes even more difficult to maneuver!  This article shares our top 5 “must-knows” for Americans living abroad.

#1: All US citizens are required to file a tax return to the US regardless of where in the world they live or work.

This article is merely an overview of an overwhelming amount of US expat tax information. 

US Expat Tax Payer Tip 1

Back in 2009, the global financial tycoon, UBS, made a payment of $780M to the IRS and forever changed the security of Swiss banking by reporting American Citizens with offshore accounts.  Since then, additional international banks have come forward with information about American Citizens and Green Card Holders maintaining foreign accounts which had not been reported to the Department of

Unfortunately, US expatriate tax return reporting requirements baffle even the most seasoned taxpayers.

• 1. www.greenbacktax.com

American expats living abroad have an opportunity to invest in a wide range of investment vehicles. Specifically, the United Kingdom residents have an access to a variety of tax-free collective investments.

What are the IRS’s thoughts on your expatriate tax return?

“Tax secrecy continues to erode. We are not letting up on international tax issues, and more is in the works. For those hiding cash or assets offshore, the time to come in is now. The risk of being caught will only increase.”

- IRS Commissioner Doug Shulman