r/USExpatTaxes

I decided to become compliant through the streamlined process at the end of 2024. My reasoning at the time was wanting to avoid a nasty surprise at retirement when I take my pension distribution. I was not ready to renounce so I contacted an expat tax specialist and got my first tax bill - over $50k, and for a reason I can’t quite fathom today, I filed. My tax preparer continued to work through my tax years and in total I will owe multiple times that amount. This is primarily because of pension contributions and buybacks for missed contributions that have reduced my taxable income in my country of residence but increased my US taxes. (I was also very ill informed about this clearly.)

I have since renounced because I literally couldn’t afford to keep my passport - I didn’t want to, but I’ve accepted it. I still have $80k left to pay. I’ve had to take out loans to be able to pay my taxes! At this stage I am so upset that I didn’t just renounce when it all started even though that’s not compliant. But that’s in the past and I can’t change it. Now I’m wondering if I should just ignore my remaining amount and forget about it. I do have a US bank account and may inherit some money from my parents but not a lot. I go back a couple times a year.

I hate that I was trying to do the right thing and am literally paying for it. Are there ANY other options?

American living in Uk, two tax obligations/jurisdictions/returns. Had a wealth advisor for past few years. Nice guy, gives me perspective, but not worth the AUM fee. If I could go “fee-only” I would (but they don’t exist for dual tax jurisdictions like this). My accountant is great. I’m thinking, maybe I scrap the wealth advisor (I’m really only in dual reporting funds anyway) and just pay advice tax advice calls with my accountant when I want to do anything specific. Seems just as effective (and a lot cheaper), than current setup. But I guess I lack confidence and am worried I will miss some gigantic “gotcha” or loophole between the two systems.

Anyone else been on this journey already?

Thanks!

Does a mistaken non-filing of Form 2555 (no revocation statement attached) count as "revoking" the FEIE under §911(e)?

I have 2 self owned and about 18 joint accounts. Previous years I FBAR filled in Part 2 and Part 3 with each accounts max value in the year.

Last year about 10 of the joint accounts matured. Matured accounts got closed during the year (but had non-zero max value - on the day of closure; end of year their value was 0) and new accounts which basically continued the closed ones also have a non-zero max value. I have total of 30+ accounts.

Part I - Question 14 - Do you have more than 25 accounts. <The answer for me is yes>.

If "Yes" is checked do not complete Part II or Part III, but retain records of this information.

Am I supposed to file with just Part I filled - Part II and Part III empty?

My parents took in in February 2026 so I made a mad dash back from the US to the UK without knowing how long I'd be staying for. I have both British and American citizenship and I worked for a US company that let me work remote for 3 months, but eventually took a job in the UK as my parents required long-term support. I am trying to figure out how best to file my taxes with HMRC. I'm assuming (maybe incorrectly) that I'll only owe on the portion of my 25/26 wages that I earned while working in the UK for Feb, March & April, which will be around $9000, but have no idea how to go about letting them know & calculating everything.

Hi, I am 63 and living/retiring in Australia. I am a dual citizen with the US, and eligible for US Social Security. As I am easing out of the working life, I wanted to start to draw down on my US Social Security.

I have read a bit on the pros and cons of starting early, and was ready to apply.

Then I came across this odd provision applying only to American citizens living overseas under the normal retirement age of 67. If I work more than 45 hours in a month, I am not eligible for Social Security in that month, with penalties for not reporting it. The wording of the rules was a bit odd, but it seems I would simply forfeit that months' benefit and never get it back.

Can anyone confirm or provide more clarity?

Thanks!

I am an American who just got a work contract with a European Union country. I have the option to live and work remote from the USA but they could also assist me in getting a visa to work in and live in the EU. This means I can consider many different countries and the amount I could save on taxes depending where I live would possibly entice/justify living overseas rather than staying in the US.

How would I go about finding someone who specializes in this and can offer advice? I of course would pay for their time and advising, but I don't know where to start in finding this type of tax advisor.

hi, i used FFFF for the first time this year and my returns were initially accepted but i just received a letter in the mail saying i did it wrong and actually owe $5k. i am a long time uk resident and pay taxes here and do notttt make enough to be double taxed.

i phoned the irs and she said she could only see the 1040 on her end but i definitely submitted a 1040, schedule A, and 1116. has anyone else had this issue where FFFF doesn't submit all your forms? I realise now i also need an 8833. should i just start over and hope it actually works this time? or is it better to print and mail these forms in. thank youuu

edit: chatgpt says i need a schedule 3, not an 8833. does this track? So: 1040, sched 3, 1116?

Election taken MTM in prior couple years. Need to update it to default election (1291) as marketability of investment is debatable. The PFIC is sellable and buyable from the corporation / provider to anyone all 365 days,. It is not traded on regular stock exchange, but available from the bank selling the ULIP policy. Policy holds mutual fund like investment underneath. Every CPA has their own interpretation. Planning to update the election to 1291 (excess dist) in 2025. Will it be allowed to change in prior with amendment ?