We know that U.S. international taxation is a complicated topic. Often Americans abroad are not aware of their U.S. tax obligations. We prepared this easy-to-understand tax infographics to answer most common questions regarding U.S. expat taxes.

Are you a U.S. person for tax purposes living abroad? Then remember these 5 things about U.S. expat taxes:

  • Filing U.S. tax return as an American living overseas: check filing thresholds for 2018 tax year to see if you need to file U.S. tax return.
  • If you have more than 10,000 USD in foreign financial accounts (total value of all accounts, including the ones you have signature authority over) at any time during calendar year, you have to file Form FinCEN 114. We have a blog post about FBAR here.
  • Child Tax Credit and changes to it after Trump’s tax reform: now you can get a credit up to 2,000 USD for each qualifying child. The refundable portion of the credit is up to 1,400 USD.
  • If you never filed U.S. tax return while living abroad, then you may qualify for Streamlined Procedures program. Most of our clients do not owe any taxes, have their penalties waived and come into compliance within a few weeks after starting the process with us.
  • Avoiding double taxation. Do you know that tax professionals prefer Foreign Tax Credit while self-filing U.S. expats prefer Foreign Earned Income Exclusion? Learn here the difference between FTC and FEIE and advantages of each option.

Do you need tax help? Contact us now and book a free 20-min call with our U.S. tax expert.

FREE U.S. tax guide for Americans abroad

FREE U.S. tax guide for Americans abroad

The only e-book about U.S. international taxation, which you need to read as U.S. expat:

1. Foreign Tax Credit vs. Foreign Earned Income Exclusion

2. What is the danger of holding a Controlled Foreign Corporation?

3. Why more and more people are renouncing U.S. citizenship?

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