If you are a US citizen that has temporarily or permanently moved outside of the United States (an “expat”), then there are some unique tax considerations that apply to you. A US citizen is required to report and pay tax on all income worldwide for as long as they have their citizenship. This means that for the entire time that you live overseas, you will need to report your income to the IRS. Additionally, if you open bank accounts or acquire assets overseas, you may be subject to more reporting requirements with harsh penalties for non-compliance.
We are experts in expat taxation and can assist you in planning for and understanding the unique tax considerations of living abroad. Additionally, through our close association with Lanphier LLP, a full service CPA firm of which Dennis Lanphier is also a partner, we are able to assist you with the annual tax compliance while overseas. We leverage the latest technology to make remote communications both painless and secure.
Contact our firm today to discuss your expat tax issues and how we can assist you.