FATCA? What the Heck Is It? | File US Taxes From Abroad

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The FATCA, or Foreign Account Tax Compliance Act, is what gives US Citizens and Green card holders living outside of the US the responsibility to report their foreign assets.
It is a law from the US government made to track potential illegal tax activity and monitor American taxpayers and business folks who are earning income abroad. US citizens and Green Card Holders living abroad will need to report their foreign assets if they exceed certain monetary thresholds, under this FATCA law. Plus, foreign institutions (like banks) are also involved and need to report to the IRS the assets from their American clients.
With MyExpatTaxes’ all-in-one software, you can file the FATCA and FBAR. It’s never been easier to become tax compliant!
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✅ The FATCA For Americans Abroad: www.myexpattax...
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Intro: (00:00)
For US Citizens living abroad: (00:13)
What is FACTA?: (00:45)
Banking Abroad: (01:09)
Form 8938: (01:52)
FATCA Threshold: (02:07)
File FATCA with MyExpatTaxes (02:21)

[@MyExpatTaxes]

Get all your US Expat Tax questins answered by a Tax Pro! Join Today facebook.com/groups/usexpattaxsupport

[@azimweapon]

last time i filed tax in 2007 living in usa after that i lived only 4 years in usa upto now currently living in pakistan for last 6 years i dont have any income im married and have 2 kids also got theirs social security card recently but they never been to usa for expenses i live with my mom and she support me and now i want file tax return with no income want ur advise

[@MyExpatTaxes]

Hi Azim, sure. Feel free to contact us on our website!

[@thelittlejennie]

What about for dual citizenship

[@MyExpatTaxes]

If you are a dual US citizen, then the FATCA is still applicable.

[@MyExpatTaxes]

Do you have any US expat tax questions? Our team is ready to answer! 👇

[@sharkATX]

Thanks to you guys I saved a lot of time and energy filing my taxes for the first time as a through and through European meaning I've never been in the US longer than a few weeks. How can a country like this be that backward and force you to file taxes just because you were born there (probably by accident) or by inheritance?! Can hit the ceiling because of this.......

[@MyExpatTaxes]

Happy we could help! :)

[@sharkATX]

@@mikebreen2890 You can't create a new bank / investment account in Europe without filing something (FATCA) when you are honest about your dual citizenship. It's really ridiculous. They should force stop this regulation asap.

[@eddieennisbaysal27]

please be serious next time please

[@rezwan_96]

Thanks, i really needed the info , anyway, no offence but have anyone ever told you that you look like a younger joe biden without eyebrows or is it just me?