AMERICAN EXPAT RETIREES
Americans who retire overseas generally remain obligated to continue filing US income tax returns if they meet certain requirements. If you have not or do not plan to renounce your US citizenship, you are generally required to continue filing a form 1040 in the United States.
Filing thresholds depend on your age, filing status and other factors. If you receive certain types of income you must file US returns regardless of your gross income. We can help you understand the requirements and make sure you submit the proper returns to the IRS and FINCEN.
Based on recent stimulus funding to individuals from the US government, having an updated filed tax return makes it easier to receive the stimulus checks, although there are other means to obtain the stimulus money if you haven't filed a recent tax return.
Retirees may also be obligated to report foreign financial accounts depending on the type of accounts and account balances under reporting requirements called FBAR (Foreign Bank Account Reporting) & FATCA (Foreign Account Tax Compliance Act).
Play it.
If you’re filing expat taxes for the first time, even in fairly simple filing situations, it’s a good idea to retain professional assistance. Looking for personalized, professional attention? Get started with a mini-consultation and a no obligation quote on your 2020 taxes.
Haven’t filed in a while? We assist clients with Streamlined Compliance - a group of filing relief programs offered by the IRS.
“Render unto Caesar the things that are Caesar’s, and unto God the things that are God’s.”