Why file U.S. tax returns? Tag

13 Nov

Foreign Tax Credit – Optimizing on a US Tax Return

US citizens and permanent residents are taxed on worldwide income, regardless of where they live in the world. Fortunately, there are two common methods that US expats utilize to eliminate...

13 Nov

Child Tax Credit – How to Qualify

The child tax credit is a great benefit provided by the US government to American families with children under the age of 17. The credit or “tax refund” can be...

02 Jan

IRS Penalties (for not filing or paying)

by holaexpat in General Expat Tax Information in General Expat Tax Information Comments

Many Americans living and working abroad forget to file their US tax returns. Others know about the obligation, but disregard it. What's the worse that can happen, right? The short...

28 Dec

US Tax Returns – Filing Requirements

by holaexpat in General Expat Tax Information in General Expat Tax Information Comments

Filing Requirement Generally speaking, if your total income for the year does not exceed the standard deduction (per your filing category), then you don't need to file a federal tax return. Starting...