Articles Tagged with IRS

calculator-1044172_640-300x200“Retirees living abroad have to take special care with their tax returns. If you forget to check it off this box on Schedule B when you live overseas, it could mean big trouble with the IRS.”

It’s something you don’t hear discussed often, but there are people who like to hide money overseas. Others just love the idea of retiring to a European country where they can live out a life-long dream. However, according to a recent article from CNBC titled “How to retire overseas and avoid IRS penalties,” Congress enacted the Foreign Account Tax Compliance Act, or FATCA, in 2010 expressly to increase tax compliance by Americans, who keep financial assets outside of the U.S. Continue reading