Do Americans living abroad still have to file U.S. tax returns?+
U.S. citizens and many green card holders generally remain subject to U.S. filing rules while living abroad. The exact requirements depend on income, filing status, accounts, entities, investments, and other facts.
Will the Foreign Earned Income Exclusion eliminate all of my U.S. tax?+
Not necessarily. Eligibility, income type, housing costs, self-employment tax, investment income, refundable credits, and future planning may affect the result.
Is the Foreign Tax Credit better than the Foreign Earned Income Exclusion?+
Neither is universally better. The stronger approach depends on the foreign tax rate, income level, location, family situation, income type, and future plans.
Do I need to report foreign bank accounts if they earn little interest?+
Possibly. Some foreign-account reporting requirements are based on account values, ownership, or signature authority rather than taxable income.
What happens if I have not filed U.S. returns for several years?+
The response depends on filing history, tax owed, foreign-account reporting, willfulness, missing information returns, and whether the IRS has already contacted you.
Can TaxSpectra help before I move abroad?+
Yes. Pre-move planning is often the best time to address state domicile, compensation, business structure, investments, retirement accounts, banking, timing, and documentation.
Does TaxSpectra provide foreign-country tax advice?+
TaxSpectra focuses on U.S. tax matters. When local-country advice is needed, the engagement may require coordination with a qualified professional in that country.