Olivier Wagner, Author at 1040 Abroad

PFIC Exemption: When Form 8621 Is Not Required

Many U.S. expats have been told that owning any non-U.S. mutual fund or exchange-traded fund automatically means filing a separate Form...

The Additional Child Tax Credit is the refundable portion of the Child Tax Credit. For 2025, an eligible U.S. expat may receive up to...

Yes. A U.S. citizen living abroad can claim the Child Tax Credit for 2025 if the taxpayer and child meet the eligibility requirements. For...

If you're a U.S. citizen or Green Card holder married to a nonresident alien (NRA) spouse, filing your federal income tax return can be...

Navigating international taxation and U.S. tax compliance can be complex for U.S. expats who own or benefit from a foreign trust. Among...

Yes, delinquent FBAR penalty relief still exists. Although the IRS removed its public Delinquent FBAR Submission Procedures webpage in...

Form 1116 allows U.S. expats to claim a Foreign Tax Credit for income taxes paid or accrued to another country. For most expats living in...

If you no longer want to keep your U.S. green card, you'll generally need to file Form I-407, Record of Abandonment of Lawful Permanent...

The One Big Beautiful Bill Act, signed into law on July 4, 2025, changes several federal tax credits, deductions, and business rules that...

Jul 21, 2026 | FBAR and FATCA

If the total balance of your foreign financial accounts exceeded $10,000 at any time during the calendar year, you need to file an FBAR....

The relief procedures for certain former citizens are a special program from the Internal Revenue Service (IRS) that allows former U.S....

Yes. There is no legal requirement to hire a CPA, attorney, or tax professional to renounce U.S. citizenship. Many Americans complete the...

For many U.S. expats considering renouncing their citizenship, the exit tax is a major concern. It's often portrayed as an unavoidable...

For qualifying taxpayers abroad, April 15 is the date from which interest begins to accrue on unpaid federal income tax, even though the...