Understanding Tax Reporting for U.S. Citizens Living Abroad
U.S. citizens move abroad for lots of different reasons a better quality of life in retirement, a career opportunity, to explore, or for love of a particular person or place but all expats share one very important trait: a sense of adventure.
However, moving abroad involves lots of logistical planning, and financial considerations should always feature near the top of the list, including the requirement that U.S. citizens must still file U.S. taxes after their move overseas.
U.S. Tax Rules for U.S. Citizens Living Abroad
The U.S. has a citizenship-based taxation system. It’s the only developed nation that has this sort of tax system, rather than a residence- or territorial-based system.