Tag Archive for Living Abroad

Receiving Social Security Benefits While Living Abroad

Senior woman with tablet PC holding fake like button against blue background

Social Security – that onerous tax we pay to work in the United States, supposedly for our own retirement but it seems to be more to fund those who are already drawing on it! I have quite a few clients who are on temporary work visas here in the US. They rightfully question whether they will be able repatriate Social Security when they are eligible to draw on it. Or there are those US Citizens who travel after they retire and may even choose to settle abroad or go back to their home country if they had migrated to the USA.

Are You A US Citizen or Not?:

Retirees who are U.S. citizens are entitled to continue receiving benefits for as long as they live outside the United States. However, citizens of other countries who receive Social Security may have some restrictions on how long they can receive benefits while outside Read more

Streamlined Procedure And Foreign Bank Account Regs For Non-Resident US Citizens

Dollar Sign Island

It all started with the announcement of the FATCA (Foreign Account Tax Compliance Act) going into effect, then the new streamlined compliance procedures were announced in 2012 to go into effect on September 1st, 2012.

They were implemented in recognition that some U.S. taxpayers living abroad had failed to timely file U.S. federal income tax returns or FBARs, Form TD F 90-22.1. These delinquent taxpayers may have recently become aware of their filing obligations and now seek to come into compliance with the law.

The new procedures are for non-residents including but not limited to dual citizens who have not filed U.S. income tax and other related information returns. Read more