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Posts Tagged ‘u.s. income tax’

U.S. Taxes for Americans Staying Abroad

U.S. citizens living overseas are required to report their worldwide income to the IRS, including financial accounts held overseas. The IRS’ persistent efforts to curb tax evasion lead to the strict enforcement of the Foreign Account Tax Compliance Act (FATCA). Failure to report income results in a serious penalty. The Motley Fool shares: “Deadlines “Let's start with deadlines. The one for filing your income ...