On December 20th, 2017, the United States Congress approved sweeping new changes to the US Tax Code. While many of the changes impact taxes for the 2018-2019 tax filing season, there are a number of changes that took effect even before. As an expat, understanding these upcoming changes is the key to help you better manage your tax liability.
We have partnered with Taxes for Expats (TFX) who provided us with two guides to help you find simple answers to tax questions related to recent changes:
The US Tax Guide 2020: provides answers to questions on tax liability for US citizens and Green Card holders who also earn income abroad. This includes information on whether you need to file and the important forms on must file to accurately report income and foreign holdings.
Tax Reform – Winners and Losers Amongst Americans Living Abroad: lists each change to the US Tax Code and how it specifically impacts US citizens and Green Card Holders who earn foreign income.
Being informed is key to successfully navigating the new changes to the US Tax Code.