American Expats: PFICs—Don’t Get Caught Out by U.S. Tax Rules on Foreign Investments
Submitted by Creveling & Creveling Private Wealth Advisory on May 4th, 2020By Chad Creveling, CFA, and Peggy Creveling, CFA
With the introduction of the U.S. Foreign Account Tax Compliance Act (FATCA), most expat Americans have found that trying to avoid U.S. tax by investing offshore doesn’t work. American citizens and green card holders are subject to U.S. tax on all of their global income, even when they live outside of the United States.
