IRS Guidance for U.S. Citizens Working Abroad

WEBCAST: <a href="Distance_Learning/Applying_Strategic_Financial_Analysis_in_Higher_Education_A_Case_Study.html">Applying Strategic Financial Analysis in Higher Education: A Case Study Wednesday, June 6, 2012 1:00 PM EDT
WEBCAST: <a href="Distance_Learning/Shared_Services_Best_Practices_in_Higher_Education.html">Shared Services: Best Practices in Higher Education Monday, June 18 1:00 pm EDT
WEBCAST: <a href="Distance_Learning/Common_Compliance_Pitfalls_with_Study_Abroad_Programs.html">Common Compliance Pitfalls with Study Abroad Programs Wednesday, June 20, 2012 1:00 PM EDT
ON-DEMAND: <a href="Distance_Learning/HEAFCast_-_The_Higher_Education_Accounting_Forum_Online.html">HEAFCast - The Higher Education Accounting Forum Online
ON-DEMAND: <a href="Distance_Learning/On-Demand_Webcasts/OD_Net_Tuition_Revenue_Price_and_Enrollment_How_Can_you_Achieve_Balance.html">Net Tuition Revenue, Price and Enrollment: How Can you Achieve Balance?

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.