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Filing Taxes While Overseas

overseas tax filing

Do You Live Abroad?

Traveling abroad, the phrase alone evokes ideas of adventure and excitement. For some Americans, it is not just an idea; it is reality. In some cases, the relocation is temporary, while in others, the situation will be permanent. There are several reasons someone would choose to leave the United States to live overseas. Some set out to find adventure and discover new and exotic places around the world. There are more practical reasons, too, such as financial. It is certainly possible to find more affordable housing in other countries, for example. Another reason may be marriage. If a U.S. citizen marries a foreigner, they may choose to live in their spouse’s country.

The Possibility of Being Double Taxed

Whatever reason drives someone to live overseas, there are some financial considerations that cannot be neglected. U.S. citizens are required to pay taxes on the income they earn, even if that income was earned outside the U.S. Some other countries also require residents to pay taxes, so this could mean that a U.S. citizen living and working abroad could be taxed by both countries. The U.S. offers some tax breaks to ease the burden, but all citizens are still required to file a tax return, even if living overseas.

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We Know All the Exemptions

At CPA Accounting and Tax Services, it is our job to keep up with changing tax laws and procedures. We can help you file your U.S. tax return from wherever you may be living at the time. It is our pleasure to make sure you can take advantage of all the tax credits, exemptions, and exclusions that you are entitled to. These advantages can disappear if you fail to file your return on time, so be sure to contact us as soon as possible.

Don’t Stop Filing Your Taxes

If all of this comes as a surprise to you and you have lived overseas for years without filing tax returns, do not delay. Call us today, as we can help you get into right standing with the IRS. The government would rather you step up and come clean now rather than not at all. If they have to spend time and money tracking you down, they will be far less lenient and understanding of your situation, than if you come forward of your own volition. The U.S. makes a concerted effort to pursue taxes owed to them and will search worldwide to recoup what is owed to them. Its tax treaties, which are in effect in over 40 countries, assist them in their efforts.

CPA Accounting and Tax Services is on your side and can file your tax returns, no matter where you currently live.

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Call Our Orlando Office at (407) 382-6658 to Schedule Your Initial Consultation