Form 1040 worldwide income
Report all income annually. Automatic expat deadline June 15 (extendable to Oct 15).
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Pick the foreign income exclusion (FEIE) or the credit for foreign taxes (FTC), file your foreign account reports (FBAR/FATCA) on time, and avoid surprise state tax while abroad.
Review my US tax pictureFEIE 2026
$132,900
FBAR trigger
$10,000
Deadline
Jun 15
Report all income annually. Automatic expat deadline June 15 (extendable to Oct 15).
Required if foreign account balances exceed $10k aggregate at any point. Filed separately from tax return.
For qualifying taxpayers abroad, report specified foreign financial assets above $200,000 at year-end or $300,000 at any time for qualifying taxpayers abroad who do not file jointly; joint thresholds are $400,000 at year-end or $600,000 at any time for qualifying taxpayers abroad filing jointly.
CA/VA/NM/SC can still tax you. Cut ties (voter reg, property, driver’s license) to avoid state filing exposure.
Best for low-tax countries. Excludes earned income; requires 330-day physical presence or bona fide residence test.
Best for high-tax countries or investment income. Credits foreign tax; can carry back 1 year and forward 10.
FEIE can reduce retirement contribution room; FTC preserves it. You cannot use both on the same income stream.
Verify 330-day physical presence or bona fide residence for FEIE.
Gather W-2/1099, foreign payslips, dividends, and tax payment proofs.
Model both; pick FEIE for low-tax, FTC for high-tax or passive income.
Aggregate all foreign accounts; file FBAR and add Form 8938 if over thresholds.
Submit Form 1040 + schedules; extend to Oct 15 if needed.
Track days, employer withholding, and account balances to stay under triggers.
Yes. US taxes are citizenship-based. You must file Form 1040 each year reporting worldwide income.
If foreign accounts exceed $10,000 aggregate at any point in the year, you must file FBAR electronically with FinCEN.
Choose FEIE for low-tax countries and earned income; choose FTC when foreign tax rates are similar/higher or for investment income.
Settel helps you track the information used to compare FEIE and FTC scenarios, monitor FBAR and FATCA thresholds, and prepare for filing deadlines. It does not replace professional tax advice.
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