US citizens and expats with foreign bank accounts face strict IRS and FinCEN reporting requirements. From FBAR to FATCA, learn the most common mistakes — and how to stay compliant.

If you have a foreign pension or investment account abroad, you've probably never heard of a PFIC. That's a problem — because the IRS has, and the tax rules around them are brutal.   What's a PFIC? PFIC stands for Passive Foreign Investment Company. In plain English: almost any foreign fund. Foreign mutual funds, foreign ETFs, foreign pension funds that invest in pooled vehicles — they almost all qualify. If your foreign pension invests in foreign funds (which virtually all d

If you live or work abroad, there's a good chance you have a foreign retirement account — and the U.S. has its own rules for it that don't always match your host country's. From employer contributions being taxed before you retire, to reporting requirements that exist even when you owe zero tax, the gaps between systems catch a lot of expats off guard. Here's what you need to know.

Should you amend a tax return — or wait? In domestic filings, corrections are often straightforward. But when foreign income or international reporting is involved, the decision becomes more strategic. Missed foreign income, FBAR filings, and forms like 8938, 5471, or 3520 can carry penalties even if no tax is owed. This article explains when amending reduces risk, when waiting makes sense, and why international corrections require careful evaluation before taking action.

Foreign financial reporting is no longer just about Swiss bank accounts. Today, U.S. taxpayers may have foreign brokerage accounts, international retirement plans, and cryptocurrency held on offshore exchanges — all of which can trigger complex reporting obligations under FBAR and FATCA. While many taxpayers assume these filings are minor disclosures, recent court cases make clear that the penalties for late or missing FBAR filings can be significant — even when no tax was ow

On December 30, 2025, MKHS Tax Group hosted a live webinar titled “Living in the U.S. Now? Your Tax Obligations as a Nonresident, Inpatriate, or Green Card Holder.” This session was designed for visa holders, green card holders, and their spouses and dependents who are living or working in the United States and are unsure how U.S. tax rules apply to them.

Social Security - Totalization Agreements The U.S. Social Security system generally requires individuals to earn a minimum amount of covered work in order to qualify for retirement, disability, or survivor benefits. For U.S. citizens and lawful permanent residents who spend part of their careers working outside the United States, meeting these requirements can be challenging. To address this issue, the United States has entered into Social Security Totalization Agreements wit

This webinar recap breaks down the essentials of U.S. taxes for expats, including worldwide income rules, FEIE vs. FTC, PFIC reporting, FBAR/FATCA requirements, foreign business filings, and state residency issues. Watch the full video and learn how to stay compliant while living abroad.

When you support a cause you care about—whether it’s disaster relief abroad, an overseas animal rescue, or a global education nonprofit—it’s natural to assume your generosity will also help at tax time.

Join me for a clear, practical webinar designed for U.S. expats and anyone with foreign assets. We’ll cover who must file, what income is taxable, key foreign asset reporting rules, and common mistakes to avoid. Perfect for Americans abroad, dual citizens, and global families who want to stay compliant with confidence.

Getting a big tax refund isn’t a win—it’s a sign you gave the IRS an interest-free loan all year. Learn why refunds drain your cash flow and how smarter withholding keeps more money in your pocket.

Learn the difference between Streamlined and Delinquent FBAR/FATCA filings and how to get compliant with IRS offshore reporting rules safely.

Learn the tax implications of selling your home, both in the U.S. and abroad. Understand how the home sale exclusion, depreciation recapture, and foreign tax credits work for U.S. taxpayers.

Learn how timing income and deductions across borders can optimize U.S. and foreign tax outcomes for expats, remote workers, and global entrepreneurs.

If you’ve ever received money from abroad — whether it’s from freelance work, consulting, or royalties — the IRS wants to know. U.S. taxpayers may need to report those payments using Form 1099 (for U.S. payees) or Form 1042-S (for foreign payees).

What happens when the IRS acts as prosecutor, jury, and judge—all at once? That’s the question at the heart of the United States v. Sagoo case (2025), a landmark court decision that could reshape how international tax penalties are assessed.

When Congress fails to pass a budget or temporary funding bill, the federal government enters what’s known as a shutdown.

Owning a rental property abroad can be both rewarding and complicated—especially when it comes to U.S. taxes. The United States taxes its...

For U.S. citizens and green card holders living abroad, year-end tax planning is more than just checking a box—it’s about making smart choices to reduce tax burdens, stay compliant, and avoid costly penalties.

When a taxpayer is considered a resident under the domestic law of two countries for the same tax year, both jurisdictions may claim the...