IRS Guidance for U.S. Citizens Working Abroad

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January 3, 2012

The IRS has recently published two documents to assist U.S. citizens living abroad in understanding their U.S. tax obligations. The first is FS-2011-13, a fact sheet providing information on federal income tax return and foreign bank account report filing requirements, explanations about how to file, and potential penalties for failure to file. The second is Publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad, which provides guidance in preparing 2011 tax returns.

The IRS Web site provides FAQs on FBAR filing requirements and financial accounts.