Where do you start?
Every week I speak to US citizens living abroad who didn’t realize they were supposed to be filing US income tax returns every year. Many call me because they heard they could get $1,000 from the US government for each child.
Here’s what you should know.
If you have children with social security numbers, you CAN get up to $1,000 per child. (More on refundable credits in a future post.)
What many people don’t realize is th...
The average U.S. citizen or Green card holder ("U.S. person") has two main annual requirements to report to the U.S. government.
1. Report worldwide INCOME to the Internal Revenue Service
2. Report foreign financial ASSETS to the Financial Crimes Enforcement Network (FinCEN), a division of the U.S. Department of Treasury