International Taxes For Expats & Nomads

🌍 We Make International Tax Simple, So You Can Focus on Living Abroad

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At GenWealth Financial, we help U.S. citizens and green card holders living abroad stay compliant with IRS tax obligations—no matter where in the world you are. Whether you're working remotely, managing a business, or living the expat lifestyle, our team ensures your taxes are handled with accuracy, strategy, and peace of mind.

Our international tax services are designed specifically for:

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• U.S. expats and digital nomads

• Americans with foreign income or accounts

• Individuals who haven’t filed U.S. tax returns in several years

• Remote workers earning income while traveling

 

We handle the details so you can focus on your goals abroad.

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We Understand the Complexity of Global Income

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U.S. citizens are taxed on their worldwide income—even when living abroad. That’s why it’s critical to file accurately and take full advantage of the benefits available to you, like:

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• Foreign Earned Income Exclusion (Form 2555)

• Foreign Tax Credit (Form 1116)

• Foreign Bank Account Reporting (FBAR / FinCEN 114)

• FATCA Asset Reporting (Form 8938)

• Streamlined Filing for Non-Filers Abroad

 

Whether you’re filing for the first time, catching up on past returns, or planning ahead, we’ll walk you through every step and help you avoid penalties.

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💡 Frequently Asked Questions

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❓ Do I have to file U.S. taxes if I live abroad?

Yes. U.S. citizens and green card holders must file U.S. tax returns every year, regardless of where they live.

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❓ What is the Foreign Earned Income Exclusion?

It allows qualified individuals to exclude up to $120,000+ (2023) of foreign income from U.S. taxes if you meet certain residency tests.

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❓ What is the FBAR and who needs to file it?

Anyone with foreign accounts totaling more than $10,000 at any time must file FBAR (FinCEN Form 114).

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❓ What if I haven’t filed taxes in years?

You may qualify for the IRS Streamlined Filing Procedures, which help you catch up without penalties.

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❓ How do I qualify for the Foreign Earned Income Exclusion (FEIE)?

To qualify, you must either:

• Pass the Physical Presence Test (330 days outside the U.S. in a 12-month period), or

• Qualify under the Bona Fide Residency Test (you've established residency in another country).
  We'll help you determine which one applies to your situation.

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❓ Can I still file jointly with my spouse if they aren’t a U.S. citizen?

Yes, but it depends on your goals. You may elect to treat your non-U.S. spouse as a U.S. taxpayer, but this could increase your tax burden. In some cases, it's better to file separately. We’ll help you decide what’s most advantageous.

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❓ What happens if I miss the FBAR deadline?

The FBAR is due annually on April 15 (with an automatic extension to October 15). Missing it can result in steep penalties, but if your failure to file was non-willful, there are IRS procedures—like the Streamlined Filing program—to help you avoid fines.

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❓ Do I have to file a U.S. state tax return if I moved abroad?

Possibly. If your previous state of residence still considers you a resident (like California or New York), you may still have a filing obligation. We can help you determine if you’ve successfully severed ties for state tax purposes.

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❓ Can I deduct my foreign housing expenses?

Yes, under the Foreign Earned Income Exclusion, you may also qualify for the Foreign Housing Exclusion if your expenses exceed a set threshold. This can significantly reduce your U.S. tax liability.

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