Accountancy Saint-Paul

My US preparer filed without Form 3520, 5471, 8621, 8858, 8865, 8938, FBAR or foreign tax credits. Now what?

Your preparer may be excellent at US returns, US practice runs on W-2s, 1099s and K-1s, but...

How much longer will streamlined foreign offshore procedures be available?

The IRS has not announced an end date. As of November 2026 the Streamlined Foreign Offshore...

What if I receive form W-9?

W-9 is the form financial institutions use to collect US citizen clients' social security numbers...

I want to move abroad. What do I need to know?

Tax residency, not the payer's location, is the key determinant of where income is taxed. While...

Can I receive a tax refund even if I haven't paid US tax?

Yes, if you have children. The child tax credit is $2,200 per child for 2025 and 2026, and up to ...

Will I be taxed on the values reported on the FBAR?

The account values reported on the FBAR are not taxable income. The United States does not have a...

What if I have a foreign spouse?

Many of our clients are US citizens married to someone who is neither a US citizen nor a green...

Accountancy Saint-Paul
United States Tax and FATCA Compliance
Questions & Answers
The Internal Revenue Code is complicated and the answers below are written to be general enough to set basic expectations in common situations, but they reflect careful application of the law by proper choice of form and method. We describe the result, not the process. If you believe you are subject to exceptional circumstances and/or want to learn more about the details and how they could apply to you, send us a message or contact your tax advisor.
My US preparer filed without Form 3520, 5471, 8621, 8858, 8865, 8938, FBAR or foreign tax credits. Now what?
Your preparer may be excellent at US returns, US practice runs on W-2s, 1099s and K-1s, but European banks, funds, pensions and companies issue none of these, so the foreign side of a return is easy to miss. A return filed without a required Form 3520, 5471, 8621, 8858, 8865 or 8938 stays open...
How much longer will streamlined foreign offshore procedures be available?
The IRS has not announced an end date. As of November 2026 the Streamlined Foreign Offshore Procedure is open. It is an administrative program, not a law, so the IRS can change or close it without notice. In July 2026 it withdrew, without announcement, the separate procedure for people who had...
What if I receive form W-9?
W-9 is the form financial institutions use to collect US citizen clients' social security numbers in order to satisfy their FATCA reporting requirement. If you are current on your US tax and FATCA obligations and want to keep your account open, there is no reason not to return the completed W-9...
I want to move abroad. What do I need to know?
Tax residency, not the payer's location, is the key determinant of where income is taxed. While Americans are always subject to US tax regulations on their worldwide income, their country of residence also has the right to tax that same income, including US-sourced pensions. However, for those...
Can I receive a tax refund even if I haven't paid US tax?
Yes, if you have children. The child tax credit is $2,200 per child for 2025 and 2026, and up to $1,700 of it per child is refundable as the additional child tax credit. Refundable means the IRS pays it to you even when you owe no US tax, which is the usual case for Americans in Europe whose...
Will I be taxed on the values reported on the FBAR?
The account values reported on the FBAR are not taxable income. The United States does not have a wealth tax. Only the investment income from foreign accounts is taxable, and even then this generally escapes US tax by the application of a credit for foreign tax paid on the same income.
What if I have a foreign spouse?
Many of our clients are US citizens married to someone who is neither a US citizen nor a green card holder. The US taxes you on your worldwide income wherever you live, but it does not tax your spouse unless you choose to bring them in. If you file separately or as head of household, your spouse...

All Categories - Accountancy Saint-Paul | US Tax & FATCA Compliance

My US preparer filed without Form 3520, 5471, 8621, 8858, 8865, 8938, FBAR or foreign tax credits. Now what?

How much longer will streamlined foreign offshore procedures be available?

What if I receive form W-9?

I want to move abroad. What do I need to know?

Can I receive a tax refund even if I haven't paid US tax?

Will I be taxed on the values reported on the FBAR?

What if I have a foreign spouse?

United States Tax and FATCA Compliance

Questions & Answers

My US preparer filed without Form 3520, 5471, 8621, 8858, 8865, 8938, FBAR or foreign tax credits. Now what?

How much longer will streamlined foreign offshore procedures be available?

What if I receive form W-9?

I want to move abroad. What do I need to know?

Can I receive a tax refund even if I haven't paid US tax?

Will I be taxed on the values reported on the FBAR?

What if I have a foreign spouse?