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The New Tax Season 2025 is Coming Soon
When does tax filing season start? A new year can mean many new, exciting things. But it also means that tax season is just around the corner. Soon Americans will have to do the yearly task of filing their tax returns for the previous year. For some, it's a walk in...
Need To Know! Session on Fiscal Obligations of Expats living in Portugal. February 20th, 2025, at 15:30pm. Also in Streaming.
Registration required American Club of Lisbon. Attention all U.S. expats living in Portugal: Your deadline for the 1040 in the U.S is June 16th, 2025 Are you aware of your fiscal obligations as Expat living in Portugal? Werther you are U.S. Citizen or from any other...
Need To Know! Session on Fiscal Obligations of Expats living in Portugal. February 19th, 2025, at 11:00am
Registration required American Club of Lisbon. Attention all U.S. expats living in Portugal: Your deadline for the 1040 in the U.S is June 16th, 2025 Are you aware of your fiscal obligations as Expat living in Portugal? Werther you are U.S. Citizen or from any other...
Accidental Americans
Who are Accidental Americans? "Accidental Americans" are people who, although they have not lived in the United States and have no direct link to the country, have U.S. citizenship due to factors such as being born in U.S. territory or having one of their parents be...
Taxation of U.S. Citizens and Resident Aliens (Green Card Holders) Living Abroad
For U.S. citizens or resident aliens (green card holders), the rules for filing income, estate and gift tax returns and paying estimated tax are generally the same whether they are in the United States or abroad. They are subject to tax on worldwide income from all...
Deadline to claim the 2021 Recovery Rebate Credit
IRS announces special payments this month to 1 million taxpayers who did not claim 2021 Recovery Rebate Credit. The IRS encourages non-filers about approaching deadline to claim credits. As part of continuing efforts to help taxpayers, the Internal Revenue Service...
New Residency Based Tax Bill Introduced in the House of Representatives
From Democrats Abroad December , 2024 Democrats Abroad welcomes the introduction of the Residence-Based Taxation for Americans Abroad Act from Congressman Darin LaHood (R-IL-16). Years of commitment and dedication by Democrats Abroad has laid important groundwork to...
Non-Habitual Resident (NHR) regime in Portugal
The Non-Habitual Resident (NHR) regime in Portugal is still in place as of 2024. This tax regime was introduced in 2009 to attract foreign nationals and former Portuguese residents who have not been tax residents in Portugal for the previous five years. The NHR regime...
Portugal Will Improve Citizenship Processing with 50% More Capacity
Portuguese citizenship The process of obtaining Portuguese citizenship is changing, and it will be accelerated with the launch of a new program by Portugal’s Institute of Registries and Notaries (IRN). The goal is to enhance the capacity and, eventually, the...
Tips to Help Minimize Fees and Maximize Your Retirement Savings
When it comes to saving for retirement, every dollar counts. However, many individuals underestimate the impact excessive fees can have on their retirement savings over time. If not properly managed, high investment fees have the potential to significantly erode the...
VoteFromAbroad.org
VoteFromAbroad.org provides every US citizen abroad with the information and tools needed to VOTE. We assist US citizens voting in all 50 states, the District of Columbia, and US territories. Our online tool makes it simple to fill out and send in the federal form...
Securing Your Financial Future: US Banking and Investment Strategies for Expats in Europe
For US expats living in Europe, maintaining access to US banking and investment services is a critical yet often underestimated challenge. Staying connected to the US financial system while living abroad is vital for long-term financial security and success. However,...
Taxpayers Abroad are Underserved and Challenged
The National Taxpayer Advocate 2023 Annual Report to Congress highlights how Taxpayers abroad are underserved and continue to face challenges in meeting their U.S. tax obligations. As a result, the National Taxpayer Advocate has prioritized compliance challenges for...
The IRS has hauled in tens of millions from rich people who failed to file tax returns
The first results of the revived IRS program are announced: Rich people who didn’t file tax returns for years have already paid $172 million in overdue taxes to the Internal Revenue Service, according to the first results of the agency’s revived program targeting...
Portugal’s D7 Visa Gains Popularity Following Abolishment of Real Estate Investment Option From Golden Visa Program
The abolishment of real estate investment option from Portugal’s Golden Visa scheme has led a significant number of internationals to turn their eyes to the D7 visa, known as the Retirement Visa. Portugal’s real estate investment option, which was among most famous...
Lisbon still attractive for digital nomads
The Portuguese capital continues to occupy one of the top positions in the table that analyses 25 destinations worldwide. The “Savills Executive Nomad Index”, a ranking that analyses the 25 best destinations worldwide for Digital Nomads, places the city of Lisbon in...
FinCEN 114 FBAR 2024
The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR) is April 15. For additional information about filing deadlines, filers...
Form 1040 – Nonfilers and Penalties
Form 1040 is the standard federal income tax form that individuals use to report their income to the IRS. All U.S. persons (US Citizens, GreenCard Holder and Resident Aliens) are required to file a Form 1040 annually, regardless of their income source, the country...
NHR 2.0: How Portugal is Reshaping its Tax Regime for Foreign Nationals
In October 2023, the Portuguese government announced that by January 2024 it would end the Non-Habitual Residency (NHR) tax regime, which has granted tax benefits to many expats in Portugal since 2009. With the NHR program being phased out, the number of people who...
Passive Foreign Investment Company (PFIC)
Passive Foreign Investment Company (PFIC) A foreign entity/form of investment is a PFIC if it meets either the income or asset test described below. Income test. 75% or more of the corporation’s gross income for its taxable year is passive income (as defined in...
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