Ep 45: What Is English For "Streamlined Filing Procedures?"

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The International Money Café Show

The International Money Cafe

58 episodes

1 week ago

Foreign-born US citizens, green card holders (immigrants) in the US, and foreign nationals on temporary nonimmigrant US visas, have unique financial & US tax compliance challenges as they straddle their multi-country footprint.

US expats living abroad have somewhat similar challenges from having to deal with US taxes and foreign obligations.

In "The International Money Café Podcast" Jane Mepham, CFP®, and Manasa Nadig, EA, address these unique challenges over a cup of Coffee/Chai in addition to talking about life in the US.

Join them as they filter out the noise on cross-border taxes, finances, and life in the US, and save you hours combing the internet for information relevant to your situation.

Jane & Manasa being foreign-born, are able to address these issues from a very personal and relatable point of view every other week, as they walk the same journey and pursue their own version of the American dream.

The views and opinions are those of the speakers, and should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.

All content for The International Money Café Show is the property of The International Money Cafe and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

Ep 45: What Is English For "Streamlined Filing Procedures?"

The International Money Café Show

5 minutes

5 months ago

Ep 45: What Is English For "Streamlined Filing Procedures?"

IRS expects you to report your overseas or foreign assets when you file taxes if you are a US tax resident (US citizen, Green card holder, or you meet the substantial presence test).

Many people are unaware of the requirements, and the IRS seems to acknowledge this.

IRS has come up with an amnesty program, which allows you to catch up and be tax compliant if you haven't reported your overseas assets.

In this episode, we discuss the process, known as "Streamlined Filing," and explore the penalties involved, if any, as well as the proper steps to follow.

Episode Links & Resources

Ep 13: Mitigating Double Taxation
Ep 04: Substantial Presence Test (SPT)
Are you Tax-compliant With Your Overseas Assets? - Free Guide - Scroll to the bottom of the page.

If you'd like to work with us on your finances or taxes, check out the process

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Be sure to join the conversation by visiting our page: The International Money Cafe.

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The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.