Expat Taxes: Who Has to File?
January 27th 2012 -
Are you wondeirng about expat taxes? If you are an American citizen working or living abroad (expatriate) and have gross worldwide income exceeding $3650, married filing separately, or $9350 filing single, or $18,700 and married filing jointly, under 65 years old, (tax year 2010), you must file a US income tax return. Not to do so is a criminal offense.
The good news is that if you have not been filing your US return from overseas, the IRS has an amnesty program called “coming in from the cold” to get you started filing, as long as you come forward first and they do not find you first! I have brought in dozens of clients under this plan and been successful every time. Most clients have not owed any taxes for the last three years, and had no penalties or interest to pay. Those clients who owe taxes in the last 6 years, paid interest on the taxes due and a minor late payment penalty.
Tags: expat taxes