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FBAR: Requirements and How to File
Are you a U.S. citizen or resident alien with foreign financial accounts? You may need to file the FBAR, also known as FinCEN Form 114. If...
What Are Acceptable Reasons for Renouncing U.S. Citizenship?
Many individuals question what qualifies as acceptable reasons for renouncing U.S. citizenship. While there isn’t an official list, the...
A Tax Guide for American Citizens in Singapore
Living as a US expatriate in Singapore presents a unique set of challenges, especially when it comes to understanding and navigating the...
Official Announcement: 2025 Scholarship Award
We are delighted to announce that 1040 Abroad’s 2025 International Studies Scholarship has been awarded to Jamal Campbell, who will be...
FBAR Penalties: Everything You Need To Know
Many Americans living abroad must file a Foreign Bank Account Report (FBAR) each year—but not everyone realizes this obligation, leading...
Covered Expatriate vs. Non-Covered Expatriate: Criteria and Tax Implications
A covered expatriate is a U.S. citizen or long-term resident who meets specific criteria when relinquishing their citizenship or...
U.S. Tax Implications of Owning a SARL Company in France
For U.S. citizens living abroad or managing businesses overseas, understanding the tax and reporting obligations associated with owning a...
RESP Tax Rules for U.S. Expats: What You Should Know
Registered Education Savings Plans (RESPs) are a popular savings vehicle for Canadian residents, offering tax-sheltered growth to fund...
Are Foreign Pensions Taxable in the US?
Yes, foreign pensions are generally taxable in the United States and US expats must report foreign pension income on their tax returns....
IRS Form 8992 and GILTI Tax Calculations
For U.S. expats who own or have stakes in Controlled Foreign Corporations (CFCs), understanding IRS Form 8992 is crucial. This form helps...
IRS Form 8993: FDII and GILTI Deductions
Form 8993 helps U.S. expats with foreign business interests manage their tax on foreign income. The form allows U.S. corporations and...
How to Pay 1040-V Online: Easy Steps
If you’ve received a Form 1040-V from your accountant, it’s a sign that you owe a balance on your tax return. The IRS uses Form 1040-V,...
Exit Tax Explained: The Cost of Renouncing U.S. Citizenship
For many U.S. expats considering renouncing their citizenship, the exit tax is a major concern. This tax can feel daunting, with fears of...
IRS Form 5471 for U.S. Owners of Foreign Corporations
If you’re a U.S. citizen or expat with significant ownership in a foreign corporation, Form 5471 is a crucial IRS filing requirement. The...
