Border Security and the IRS
Increased border security in the U.S. makes it easier for the Internal Revenue Service to identify expats who may have avoided filing taxes while living outside the U.S. The law states that if you hold U.S. citizenship or a green card or dual citizenship in the U.S. and another country, you must file tax returns with the IRS every year. It doesn’t matter how long you’ve been away or how far away you live. Expat tax returns are required to include bank account and money market balances in excess of $10,000.
Posted by on 03/11 at 02:43 PM