Accepting a new position in the United States often brings several new opportunities, but there are also several factors expats should proactively evaluate, such as their U.S. tax obligations. Amidst the excitement of relocating to a new city or town, it is imperative that expats also explore U.S. tax consequences, compliance and reporting requirements, and various other responsibilities based on their residency status.

Our international tax advisors at Moore Stephens Doeren Mayhew share six critical U.S. tax obligations that tend to be misunderstood, ignored or treated incorrectly, often resulting in unwelcome surprises and onerous tax consequences:

  1. Lack of awareness of your residency status in the United States and its impact on your U.S. tax obligations.
  2. S taxation of your retirement plan in your home country.
  3. Insight into the consequences of the U.S. exit tax when you permanently leave the United States.
  4. How real estate owned in the United States for investment purposes is taxed.
  5. S. taxation consequences that occur with mortgage transactions in your home country.
  6. S. taxation on income earned from a company you own overseas.

To further explore tax obligations for expats, download Moore Stephens Doeren Mayhew’s ebook today. If you’re in need of assistance in navigating U.S. tax compliance, you may also contact one of our international tax advisors.