Amended irc 877 creates objective criteria to impose the tax on individuals with an average income tax liability for the 5 prior years of 124000 for tax year 2004 127000 for tax year 2005 131000 for 2006 136000 for 2007 or 139000 for 2008 or a net worth of 2000000 on the date of expatriation. Sandra needs to file annual tax returns fbar and fatca between the foreign earned income exclusion foreign tax credit and foreign housing exclusion sandra will likely owe no tax sandra should file through the streamlined procedure with tax returns including form 8938 for 2013 2015 and 2010 2015 fbar. If you are a us citizen or resident alien the rules for filing income estate and gift tax returns and paying estimated tax are generally the same whether you are in the united states or abroad your worldwide income is subject to us income tax regardless of where you reside if you are a us . The irs is focusing on tax compliance for us expats in july of 2019 the irs issued a statement making it clear they will be focusing on us expat tax compliance a primary area of focus in on fatca compliance if you happen to receive a compliance notice from a foreign bank or the irs you do have options. Taxes for expats did an exceptional job at preparing my 2015 income tax return prior to having them prepare my taxes i did research and read many great reviews regarding this company all of the reviews indicated that this company is outstanding i concur
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