by usoftax_admin | Sep 21, 2023 | USTAX Press
On 13 Sept 2023 U.S. Representatives Don Beyer and Dina Titus tabled the introduction of the Tax Simplification for Americans Abroad Act. This legislation seeks to help American taxpayers living in Ireland comply with their U.S. tax obligations. The Act envisages the...
by usoftax_admin | May 29, 2023 | Uncategorized, USTAX Press
The Belgian Data Authority has placed a halt on transfers of information on financial assets (and bank accounts) held by Americans to the IRS under the Foreign Account Tax Compliance Act (FATCA). The Belgian DPA found that information transferred under FATCA was not...
by usoftax_admin | May 21, 2023 | Uncategorized, USTAX Press
Filing U.S. tax returns for U.S. taxpayers in Ireland means there are differences which can confuse or trap the unwary. Here are the main problems we see: Not-filing U.S. tax returns If you (a) are a U.S. taxpayer in Ireland who (b) exceeds the income threshold for...
by usoftax_admin | Feb 28, 2023 | Uncategorized, USTAX Press
$10,000 FBAR penalty now $10,000 per year not $10,000 per account per year The U.S. Supreme Court has decided (28 Feb 2023: Bittner v. United States) that ‘FBAR’ penalties – assessed by the IRS for non-reporting foreign (i.e. Irish) bank and financial...
by usoftax_admin | Jan 17, 2023 | Uncategorized, USTAX Press
If you (a) are a U.S. taxpayer in Ireland who (b) exceeds the income threshold for any year, then you must file a U.S. tax return with the IRS reporting your worldwide income (including income taxed in Ireland). Some common misconceptions that we have...
by usoftax_admin | Jan 12, 2023 | Uncategorized, USTAX Press
Are you an American living abroad and wondering about your tax obligations? Even though you may be living and working in another country, as a US citizen, you are still subject to US tax laws. So, yes, you are required to pay your US taxes when living abroad. But...
