Category: International Tax

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Foreign Bank Reporting (FBAR)
How to Fix FBAR Errors?

There are several ways to fix an FBAR error. But some options are better than others (and some increase you chance of audit).

late fbar filing
Foreign Bank Reporting (FBAR)
What happens if FBAR is filed Late

Late FBAR filings can be subject to a $10,000 penalty. Or, potential criminal consequences if the failure to file is intentional.

fbar joint account with non us citizen
Foreign Bank Reporting (FBAR)
How FBAR Joint Account with a Non-US Citizen Works

Even if your spouse isn’t technically the owner of the account, the IRS still considers them to be a beneficial owner because they can access the funds.

how to file fbar for previous years
Foreign Bank Reporting (FBAR)
How to File FBAR for Previous Years?

One way to catch up with your payments is through the Streamlined Filing Program or the Delinquent FBAR Submission Procedures.

fbar joint filing
Foreign Bank Reporting (FBAR)
FBAR Joint Filing – Everything You Need to Know

Spouses who own joint foreign bank accounts can file the FBAR jointly, but only if both of them only own the joint foreign account.

fbar mistakes
Foreign Bank Reporting (FBAR)
Top 7 FBAR Mistakes

Don’t fall victim to the top FBAR mistakes. Some are very easy to catch (and other easy to miss!)

what is the difference between renouncing and relinquishing us citizenship
Expat Tax
What is the Difference between Renouncing and Relinquishing US citizenship?

Although relinquishing US citizenship is a form of renunciation, there are slight difference. And don’t forget the exit tax!

how much does it cost to renounce us citizenship
Expat Tax
How Much Does it Cost to Renounce US Citizenship?

The cost to renounce US citizenship can be as much as $2,350. But don’t forget the “exit tax” and other related expenses. It’s harder than you think.

can you get us citizenship back after renouncing
Expat Tax
Can You Get US Citizenship Back After Renouncing?

Giving up your citizenship is a big deal, but can you get US citizenship back after renouncing it? Well, the answer is not as simple as you think.

what happens to social security if you renounce citizenship
Expat Tax
What Happens to Social Security if You Renounce Citizenship

Before you give up your citizenship, you should understand what happens to social security if you renounce citizenship. It’s pretty straight forward.