Behind on Your Expat Taxes?
If you are 1-2 years behind, file late expat tax returns ASAP to get back on track. If you’re several years behind, you can use the Streamlined Foreign Offshore Procedures to catch up penalty-free.
Many expats think that because their income level is under the Foreign Earned Income Exclusion ($126,500 for 2024), that they don’t owe any taxes and therefore don’t have to file them.
The IRS and other tax authorities don’t know you don’t owe taxes unless you file your returns correctly claiming the exclusions or foreign tax credits. Income tax returns should be filed on time and you should claim whatever you are eligible for.
Your top priority needs to be to file all the previous years’ tax returns as soon as you can. Especially if you had or ever had $10,000 in your accounts as the FBAR has severe penalties.
How can I get caught up with my US tax return and FBAR without penalties?
Many expats discover that years after they have moved abroad, they had a US filing requirement all along. You may be one of them and may fear harsh penalties and be hesitant to get caught up on delinquent returns.
However, the IRS has implemented several programs to remove or reduce penalties. With the IRS Streamlined Foreign Offshore Procedures, you can become compliant with no late filing or FBAR penalties.
For those living abroad, many are eligible to simply file the last 3 years of tax returns and the last 6 years of FBARs and they will be caught up. It’s the perfect program for expats who were unaware of their US tax filing obligations.
If you are a delinquent taxpayer and want to catch up on your tax filings, please feel free to contact us anytime.
(dnj.ustax@gmail.com )
Behind on Your Expat Taxes?
If you are 1-2 years behind, file late expat tax returns ASAP to get back on track. If you’re several years behind, you can use the Streamlined Foreign Offshore Procedures to catch up penalty-free.
Many expats think that because their income level is under the Foreign Earned Income Exclusion ($126,500 for 2024), that they don’t owe any taxes and therefore don’t have to file them.
The IRS and other tax authorities don’t know you don’t owe taxes unless you file your returns correctly claiming the exclusions or foreign tax credits. Income tax returns should be filed on time and you should claim whatever you are eligible for.
Your top priority needs to be to file all the previous years’ tax returns as soon as you can. Especially if you had or ever had $10,000 in your accounts as the FBAR has severe penalties.
How can I get caught up with my US tax return and FBAR without penalties?
Many expats discover that years after they have moved abroad, they had a US filing requirement all along. You may be one of them and may fear harsh penalties and be hesitant to get caught up on delinquent returns.
However, the IRS has implemented several programs to remove or reduce penalties. With the IRS Streamlined Foreign Offshore Procedures, you can become compliant with no late filing or FBAR penalties.
For those living abroad, many are eligible to simply file the last 3 years of tax returns and the last 6 years of FBARs and they will be caught up. It’s the perfect program for expats who were unaware of their US tax filing obligations.
If you are a delinquent taxpayer and want to catch up on your tax filings, please feel free to contact us anytime.
(dnj.ustax@gmail.com )