These often include Form 2555 to claim the Foreign Earned Income Exclusion and Foreign Housing Exclusion, or Form 1116 to claim the Foreign Tax Credit.Īnd secondly, because expats often have extra reporting obligations such as filing an FBAR (Foreign Bank Account Report) to report their foreign bank and investment accounts, Form 8938 to report their foreign financial assets, and other forms relating to any foreign businesses that they own (or part own). It is more complicated firstly because expats have to file additional forms to avoid double taxation. This is because filing US taxes from abroad is more complicated. However, there are fewer effective tax software options for US expat. Instead, the majority either employ a tax preparer, who uses software, or input their information into online software themselves. In the light of this, it’s strange that the IRS has been changing Form 1040 over the last couple of years, as very few people use it. The majority of Americans use tax software to file their US taxes.
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