Archive for the ‘Uncategorized’ Category

Foreign Account Tax Compliance Act (FATCA) Overview

Tuesday, January 14th, 2014

The 2010 Foreign Account Tax Compliance Act (FATCA) (which was part of a larger jobs bill) contains a number of provisions that are intended to make it more difficult for U.S. taxpayers to use foreign accounts to shelter income from U.S. tax. It also imposes new requirements on certain foreign taxpayers with U.S. investments. Moreover, […]

IRS Form 2555, Foreign Earned Income, Expat Taxes

Monday, August 1st, 2011

A deceptively simple prospect in tax reporting is a US citizen working abroad. There are many pervasive misundertandings in this area of US tax law. Generally speaking, gross income, for US tax purposes, does not include the foreign earned income and a “housing cost amount” of a qualified individual who makes the appropriate exclusion election. […]