Tax penalties for US expats: failure-to-pay and failure-to-file

Aug 8, 2017

The topic of tax penalties for US expats can be intimidating and scary. U.S. international tax law can be complicated as well. That is why we publish weekly tax infographics to provide you with necessary.

So, we gathered a few facts you need to know about failure-to-pay and failure-to-file penalties.

Check them out now below:

Do not hesitate to contact us for your customized tax solution.

You’re living your adventure and you’re settled in your new home. You are having non-US bank accounts, a non-US employer and a non-US social life. You have limited ties with the US. The people who pay you (banks, employer) are not in touch with the IRS. That’s why you consider simply not filing US tax return. What could go wrong?

As you might know, on some level… US citizens are required to report their worldwide income on a US tax return regardless of where they live.

Think AGAIN…

IRS has a few proven ways they use to track people down.

#1 FATCA which means Foreign Account Tax Compliance Act – that is a mouthful

#2 by your Passport

#3 IRS received the 1099 form

#4 Beneficiary of a deceased US citizen

#5 You get tracked by your bank

Lastly, if you plan on moving back to the US and you are married you must have your taxes in place. In the process of sponsoring a spouse for a green card, you would have to provide US tax returns. Showcase that you have an income in excess of the poverty level.

There you have it! Six top ways IRS can find you even if you live overseas. Even if you have non- US employer and non-US bank accounts. These ways will only apply in special cases. Taxes can be a confusing matter at times.

Here you will cand find out more about the most common ways that IRS can track you down and check if you filed your US tax return. No matter where you live in the World.

U.S. Taxes For American Expats E-book

FREE U.S. Tax Guide for Americans Abroad

The only e-book about U.S. Expat Taxes you need to read! Covers

1. Foreign Tax Credit vs. Foreign Earned Income Exclusion

2. The Additional Child Tax Credit. Get a $1,400 refund!

3.  What happens if I don't file?

and more...

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