The idea behind this blog is to give those who would have the most use for it-expatriates with tax issues and concerns-the information they need to get those problems resolved. Dealing with the many differences you face every day is hard enough, from switching between languages to remembering your cultural courtesies, and from keeping up on your intercontinental travel schedule to remembering multiple countries’ rules and regulations. It’s understandable when things like foreign and domestic tax filings fall through the cracks, or when accounting to the U.S. government concerning your offshore bank accounts is forgotten. That’s why we’re here, and that’s why you need our help. The following is a list of topics that we’ll be tackling over the coming weeks and months that deal with the issues expats are most concerned about. Follow us on Twitter, subscribe to this feed, or just check back here often to keep up to date and informed on matters critical to you.
Introduction
Why you should not self prepare
How to make sure you hire the right qualified professional -
Top 5 things to evaluate when hiring a CPA to prepare your Expat tax returns (SeanW)
International Tax Lawyer – What is
Tax Attorney – What is
Expatriate Issues
Foreign Earned Income Exclusion
Foreign Earned Income Exclusion online eligibility test
Physical presence test calculator
Foreign Housing Exclusion
Tax Treaties (General overview; common misconceptions; Totalization agreements)
Foreign Bank Account reporting (FBAR, TDF 90 221) (Overview, penalties and alternatives)
Offshore Voluntary Disclosure Alternative
5471(Overview; Pros and Cons of having an offshore corporation; Subpart F income; What can/cannot be deferred; penalties; Mitigate penalties)(SeanW)
Schedule C and US taxpayers living abroad(SeanW)
IRS Problems for US Taxpayers living abroad
Top 10 tax mistakes by US taxpayers living abroad:
1. Failure to File
2 – 10 Coming soon!
To file or not to file? Criminal for not filing vs civil for not paying. (SeanW)
IRS Notices for Expats
IRS Audits for Expats
Offers in Compromise (OIC) for Expats
Underreporting (Why take a gamble? Statutes of limitations; possible future tax treaties; recent UBS developments)
Tax Problem Resolution for US Taxpayers living abroad – Common issues; Possible strategies; Why your case should not be handled by a regular tax attorney
Other Challenges
US Tax implications of Offshore Investing (Common investment vehicles and their tax treatment; offshore life insurance with cash value; What can/cannot be deferred))
