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4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
4.8  of 1000+ reviews by Trustpilot   ✔ Tax returns for both US and abroad
Free intake
US tax return for expats
Local tax return
US and local tax return combined
Streamlined procedure
Expatriation
Form 2555 and Form 1116
Amended Tax returns
Financial planning for expats
IRS Letter

Newsletter

Form 2555 and Form 1116

To ensure that your tax return is accurate and complete, the Form 1040 must be supplemented with (multiple) forms and schedules. Furthermore, this ensures that you do not pay taxes twice.
If you live in another country, you can declare your foreign income and assets, as well as any previously paid taxes, using a variety of forms.

Form 225 (FTC) or Form 2555 (FEIE)

A CPA will typically use Form 1116 (FTC) Foreign Tax Credits and/or Form 2555 (FEI). Your financial situation determines which form is used; the CPA considers what is best for you in the short and long term. The goal is to correctly declare your worldwide income without paying the IRS (unnecessary) double taxation.

US citizen tax filing obligation

As a US citizen or (expired) Green Card holder, you must report your worldwide income to the IRS on an annual basis. You must also file your tax return in your country of residence in accordance with local regulations (often this is also your worldwide income). The various additional forms that the CPA uses in conjunction with your Form 1040 ensure that you do not pay double tax if you do not have to.

Common error

A common error is that U.S. income is reported to the IRS in America, while profits and income earned in the country of residence are reported locally. Or that the US CPA indicates that if you live abroad, you no longer need to file a US return. Stop right there: this is simply not true.

As a US citizen or (expired) Green Card holder, you must report your worldwide income to the IRS on an annual basis. You must also file your tax return in your country of residence in accordance with local regulations (often this is also your worldwide income). The various additional forms that the CPA uses in conjunction with your Form 1040 ensure that you do not pay double tax if you do not have to.

Expats Overseas

Expats Overseas has a large network of CPAs with the necessary qualifications, experience, and cost-effective services. Contact us for a free and no-obligation discussion of your options.

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