Finance Questions? Ask a Financial Expert for Answers ASAP
Hello, Anthony how are you tonight?
If you are a US citizen, then you must file a tax return regardless of where you earn your income. All income is taxable. There are some benefits such as the foreign earned income exclusion and the foreign tax credit, but you still must file a return
The good news is that if you do not owe tax, there will be no penalties
so, if you earned below the foreign earned income exclusion each year you were overseas this is not a big deal. You will just need to file your missing returns
I would suggest hiring a tax professional that specializes in expat tax issues.
Thank you very much. I will definitely be getting my affairs in order. That exclusion clause is not clear at all. Thank you for the help.