Federal Tax Return

Federal Tax Return

You must file your taxes regardless of where you reside. US citizens and Green Card holders must file an annual tax return detailing worldwide income. Although expats are required to report, you rarely pay taxes to the IRS. You must still file regardless of your location. Filing taxes can be a daunting process. Fortunately, we are here to help you with all aspects of expat taxes.

You are Legally Required to File

The tax system in the US is based on citizenship, which means all Americans, including expats, are required to file a federal income tax return annually. As a result, additional IRS forms often need to be filed by expats to avoid double taxation.

Besides filing tax Form 1040, you may also have to report foreign financial assets and registered foreign businesses.

What Forms You Should Use

You can claim provisions when filing as an expat most of the time. For example, you can reduce your US tax bill by claiming the Foreign Earned Income Exclusion and the Foreign Tax Credit. On the other hand, you may end up paying nothing. Regardless, it is vital that you complete all necessary tax forms.

When you file your US tax return, you should attach supplementary forms and evidence to Form 1040. The following are a few other types of forms, depending on your circumstances.

The most common include:

  • Form 2555 – Foreign Earned Income Exclusion (FEIE)
  • Form 1116 – Foreign Tax Credit (FTC)
  • Form 8938 – Statement of Specified Foreign Assets
  • Form 8833 – Treaty-Based Return Position Disclosure
  • Schedule B – Interest and Ordinary Dividends

For more information and advice, contact us for expert advice and help to fill and file your United States citizen IRS expat tax return.

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