U.S. Tax Services For Expats

  Living in Switzerland is a fantastic experience but if you’re one of the 40,000 Americans living in Switzerland, there are some important things you need to know about paying the US taxes Switzerland residents are required to pay. US tax laws are something that can be daunting but they don’t have to be. Knowing the basics of how taxes work for expats like you will help you avoid any tax penalties in the future. All US citizens and US green card holders who earn a minimum of $10,000 (US Dollars) (or just $400 in self-employment income) anywhere in the world are required to file a US federal tax return and pay tax to the IRS. It doesn’t matter where you live or where your income is generated, a US federal tax return is required. The good news is that doesn’t necessarily mean that you’ll owe US tax to the IRS. If you are paying income tax in Switzerland, there are several tax exclusions and exemptions available to prevent you from paying tax twice on your income and being required t...

  As an American expat, you may have heard about US tax compliance laws like FATCA but you may not know what impact these tax laws have on you as an American abroad and what compliance with them is required. The FATCA legislation has forced foreign financial institutions to report assets held by Americans directly to the IRS. Tax compliance reporting requirements have always been important but FATCA has serious consequences that make compliance with tax laws more important now than ever. What is FATCA? FATCA stands for Foreign Account Tax Compliance Act and this legislation was passed in 2010. FATCA is a broad yet complex set of rules designed to increase tax compliance by Americans that have financial assets held outside the United States. This is largely a response to recent off-shore banking scandals that revealed that many Americans were keeping large financial holdings in Swiss bank accounts without reporting or paying the US tax due on those assets. FATCA created some new sel...