Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
    • Events
    • Little Corn Island
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
Escape Artist
  • Features
    • Interviews
    • News
    • Field Notes
    • Trending
  • Your Escape Plan
    • Finance
    • Real Estate
    • Second Citizenship
    • Digital Nomadism
    • Events
    • Little Corn Island
  • Destinations
    • Europe
      • France
      • Germany
      • Italy
      • Portugal
      • Scandinavia
      • Spain
      • UK
      • Rest of Europe
    • Central America
      • Belize
      • Costa Rica
      • El Salvador
      • Guatemala
      • Honduras
      • Nicaragua
      • Panama
    • Others
      • Africa
      • Asia
      • Australia
      • North America
      • South America
  • Travel Tips
    • Know Before You Go
    • Packing List
    • Food + Culture
    • Health + Wellness
  • Subscribe
👤

THE NUMBER ONE SOURCE FOR EXPATS, DIGITAL NOMADS, AND DREAMERS.

This field is for validation purposes and should be left unchanged.
  • Your Escape Plan

It’s that time of year – Tax Deadline !

  • BY David Steckenreiter
  • February 9, 2014
Total
0
Shares
0
0
0

It just seems to be human nature that we leave things until the last minute – especially when it comes to taxes !

If you are American then the tax deadline – remember April 15 – is looming !!

As an American citizen your have to report your income from all sources domestic or foreign whether you live in the great U.S. of A. or abroad. The same basic rules apply regardless of your place of domicile.

Collection of worldwide income is the goal of most governments these days. If you are an American citizen, an alien resident or just a plain resident foreigner you are required by law to submit your income from all securities accounts, foreign banks, foreign trusts and foreign rental incomes !

If you have foreign bank accounts you may need to file the following – http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-FBAR

Review Form 8938 – Statement of Specified Foreign Financial Assets.

There is a possibility that you may need to include Schedule B – Interest and Ordinary Dividends.

If you are in South America, there isn’t much help directly from the IRS. If you are in Germany (Frankfurt), England (London), France (Paris) or China (Beijing) there are tax offices located in theses countries.

If you are a do-it-yourselfer here is a guide to assist you – http://www.irs.gov/uac/Publication-54,-Tax-Guide-for-U.S.-Citizens-and-Resident-Aliens-Abroad-1

An important point to remember. Uncle Sam isn’t likely to give you any breaks so make certain that you take advantage of all credits and deductions that you are legally entitled to have.

For example you may be eligible for a tax credit or a deduction if you have paid taxes in another country.  http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Tax-Credit

The choice may be yours – http://www.irs.gov/Individuals/International-Taxpayers/Foreign-Tax-Credit—Choosing-To-Take-Credit-or-Deduction

If you may qualify for a foreign earned income exclusion which means you might not have to pay tax on 97,600 USD of foreign income – http://www.irs.gov/Businesses/Foreign-Earned-Income-Exclusion-1 . The required forms are listed at the bottom of the page of this link.

If you need some additional help  please visit Tax Law Questions or call the toll-free number at 1-800-829-1040 (Individuals) or 1-800-829-4933 (Business).

International Customer Service: 267-941-1000 (Not a toll-free number)

Don’t forget – If you own an investment abroad you may very well be able to deduct travel expenses to visit that investment.

If you’re considering traveling or moving abroad, be sure to explore your healthcare options. Visit International Citizens Insurance to learn more and get a free quote.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Related Topics
  • income tax
  • tax
Previous Article
  • Your Escape Plan

5 Ways Vacation Improves Kids Health

  • BY EA Editors
  • November 9, 2013
View Post
Next Article
  • Food + Culture

Typical Food In Paraguay

  • BY EA Editors
  • September 11, 2014
View Post
You May Also Like
Global Diversification Tips from Experts
View Post
  • Plan B
Staying in One Country Could Be Your Biggest Financial Risk
  • BY Isha Sesay
  • September 3, 2025
Low-Tax Countries to Save Money in 2025
View Post
  • Plan B
Where Expats Are Moving to Keep More of Their Money
  • BY EA Editorial Staff
  • August 27, 2025
The search for a second passport has shifted from luxury to necessity for many Americans
View Post
  • Second Residency
America’s Second Passport Fever
  • BY EA Editorial Staff
  • August 25, 2025
Belize Offshore Banking
View Post
  • Plan B
Why Belize’s Waters Run Deep in Offshore Banking
  • BY Luigi Wewege
  • August 20, 2025
International Banking Structures
View Post
  • Plan B
Tax-Friendly Banking Solutions for International Investors
  • BY EA Editorial Staff
  • August 13, 2025
Global Residency Program and Citizenship Programs
View Post
  • Plan B
Your Next Investment Should Be a Residency Program
  • BY EA Editorial Staff
  • August 6, 2025
Tunisia, North Africa - One of most affordable Countries to live
View Post
  • Plan B
The Most Affordable Countries to Live in 2025
  • BY EA Editorial Staff
  • July 30, 2025
View Post
  • Interviews
The House We Rebuilt in Georgia
  • BY Isha Sesay
  • July 28, 2025
Trending Posts
  • The search for a second passport has shifted from luxury to necessity for many Americans 1
    • Second Residency
    America’s Second Passport Fever
    • August 25, 2025
  • Low-Tax Countries to Save Money in 2025 2
    • Plan B
    Where Expats Are Moving to Keep More of Their Money
    • August 27, 2025
  • Bolivia's incredible salt flats. 3
    • Natural Wonders
    The World’s 10 Most Breathtaking Countries
    • August 31, 2025
  • Global Diversification Tips from Experts 4
    • Plan B
    Staying in One Country Could Be Your Biggest Financial Risk
    • September 3, 2025
  • Friendly locals and relaxed daily life in The Gambia 5
    • Africa
    Could The Gambia Become Africa’s Next Digital Nomad Safari?
    • August 29, 2025
InterNations
Know Before You Go
  • England: where history lingers in the mist. 1
    • England
    Top 10 Things to Know If You’re Moving to England
    • September 5, 2025
  • Friendly locals and relaxed daily life in The Gambia 2
    • Africa
    Could The Gambia Become Africa’s Next Digital Nomad Safari?
    • August 29, 2025
  • Croatias Tourism: Aerial view of Croatia’s stunning Adriatic coastline, where historic towns meet turquoise waters 3
    • Croatia
    Croatia’s Journey to Wonder
    • August 22, 2025
  • Moving to Morocco: a palette of Tradition, Texture of Tradition 4
    • Morocco
    Top 10 Things to Know if You’re Moving to Morocco
    • August 18, 2025
  • Albania Travel Guide: City views in Tirana, Albania on a summer afternoon 5
    • Albania
    Albania’s Bold New Beat
    • August 15, 2025
Learn More
  • About Us
  • Contact Us
  • Subscribe
Why Subscribe

The newly imagined Escape Artist brings you fresh content with a global focus, and sharp, up-to-the-minute coverage of the joys, challenges, and opportunities of life abroad.

For a limited time, we’re offering a special discount on all subscription deals, so be sure to lock-in these incredible savings and start receiving top-notch travel and expat content today!

Sign up for the EA Newsletter

Get important news delivered directly to your inbox and stay connected!

This field is for validation purposes and should be left unchanged.
Escape Artist
  • Terms & Conditions
  • Privacy Policy
  • Cookies Policy
  • Disclaimer

Input your search keywords and press Enter.

Newsletter Subscription
Our Spring Sale Has Started

You can see how this popup was set up in our step-by-step guide: https://wppopupmaker.com/guides/auto-opening-announcement-popups/