Globalization has had a profound impact on workforce. The increasing number of Americans move and live abroad in different parts of the world. American expats diligently comply with various overseas rules and pay foreign income taxes in a country of residence. However, many of them do not realize that they are required to file US expat tax returns.
The USA is one of the very few countries in the world that taxes its citizens on the worldwide income. American expats working abroad are required to pay US income taxes and to file various expat tax forms.
However, American expats working abroad can utilize several provisions under Internal Revenue Code 911. American expats can claim several exclusions and deductions like foreign earned income exclusion, foreign housing exclusion and foreign tax credit. Moreover, the FBAR and FATCA requirements add the additional layer of complexity.
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International tax experts at Expattaxcpaservices.com specialize in helping international assignees and Americans expats working abroad. If you need any assistance with overseas tax issues, expat tax planning or preparation, our expat tax CPAs will be pleased to assist you. You can request services by completing our Contact Form.