{"id":10907,"date":"2022-06-28T06:27:47","date_gmt":"2022-06-28T06:27:47","guid":{"rendered":"http:\/\/13.40.31.108\/?p=10907"},"modified":"2022-06-28T08:24:27","modified_gmt":"2022-06-28T08:24:27","slug":"the-four-fiscal-obligations-for-us-citizens-living-in-spain","status":"publish","type":"post","link":"https:\/\/ustaxconsultants.es\/es\/the-four-fiscal-obligations-for-us-citizens-living-in-spain\/","title":{"rendered":"The Four Fiscal obligations for US Citizens living in Spain."},"content":{"rendered":"<p><img decoding=\"async\" class=\"size-medium wp-image-10911 alignleft\" src=\"\/\/ustaxconsultants.es\/wp-content\/uploads\/2022\/06\/fiscal-oligation-300x182.jpg\" alt=\"\" width=\"300\" height=\"182\" srcset=\"\/\/ustaxconsultants.es\/wp-content\/uploads\/2022\/06\/fiscal-oligation-300x182.jpg 300w, \/\/ustaxconsultants.es\/wp-content\/uploads\/2022\/06\/fiscal-oligation.jpg 400w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/>As U.S. Person (U.S. Citizens, Green Card Holders and Resident Aliens) living in Spain you have four different fiscal obligations: you are re\u00adquired to file a <a href=\"https:\/\/www.irs.gov\/forms-pubs\/about-form-1040\">U.S. Individual Tax Return<\/a> every year, wherever in the world they live, repor\u00adting your worldwide income, even if you pay taxes in Spain. You must file <strong>(1)<\/strong> the <a href=\"\/\/ustaxconsultants.es\/form1040\/\">Form 1040<\/a> (Federal Income Tax), if your gross income is <strong>at least $5 (married filing separately)<\/strong> or $12,400 (single). Tax Day for expats living abroad is\u00a0June 15<sup>th<\/sup>, with a further extension available until October 15<sup>th<\/sup>, upon request, that we ask for automatically for all our clients for free.<\/p>\n<p>You must also file <strong>(2)<\/strong> the <a href=\"\/\/ustaxconsultants.es\/fincen114\/\">FBAR (Foreign Bank Account Report<\/a>) with the Financial Crimes Enforcement Network, FINCEN 114, with same deadlines, if the aggregate amount of all the maximum balances of your financial accounts outside the US, reach the amount of $10,000 at any point during the year 2020.<\/p>\n<p>If you are resident in Spain, you will be taxed in Spain <strong>(3)<\/strong> on your worldwide income, no matter where it was obtained, subject to the provisions laid down in the Convention for the avoidance of double taxation between Spain and the U.S.A. (Feb. 20, 1990) and you need to report it at the <a href=\"\/\/ustaxconsultants.es\/modelo100\/\">IRPF (Impuesto sobre la Renta de Personas F\u00edsica.)<\/a>: Apart from any Spanish income it includes all your U.S source of income:\u00a0 e.g., a private pension, an annuities or SS Benefits from the U.S.A.<\/p>\n<p>You are also required <strong>(4)<\/strong> to report your foreign assets that you owe at December 31<sup>st<\/sup> to the AEAT (Agencia Tributaria Espa\u00f1ola) in the <a href=\"\/\/ustaxconsultants.es\/modelo720\/\">Modelo 720<\/a>, before March 31<sup>st<\/sup>.<\/p>\n<p>If an individual is considered to be a Non-Resident in Spain, during 2021 for Tax purposes, the taxpayer will be taxed only on his Spanish source income at a 24% Tax Rate.<\/p>\n<p>If you need any further information, please do not hesitate to contact us or <a href=\"https:\/\/outlook.office365.com\/owa\/calendar\/USTaxConsultants1@ustaxconsultants.net\/bookings\/\">book a free consultation appointment<\/a>.<\/p>\n<p><a href=\"mailto:info@ustaxconsultants.es\">info@ustaxconsultants.es<\/a><\/p>\n<p>Phone +34 915194392<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As U.S. Person (U.S. Citizens, Green Card Holders and Resident Aliens) living in Spain you have four different fiscal obligations: you are re\u00adquired to file a U.S. Individual Tax Return every year, wherever in the world they live, repor\u00adting your worldwide income, even if you pay taxes in Spain. You must file (1) the Form [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":10911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[29,24],"tags":[35,21,33,20,39],"class_list":["post-10907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-irpf-spanish-tax-return","category-us-tax-return-1040-1040nr","tag-35","tag-21","tag-irpf","tag-irs-2","tag-us-federal-income-tax-return"],"acf":[],"_links":{"self":[{"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/posts\/10907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/comments?post=10907"}],"version-history":[{"count":0,"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/posts\/10907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/media\/10911"}],"wp:attachment":[{"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/media?parent=10907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/categories?post=10907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustaxconsultants.es\/es\/wp-json\/wp\/v2\/tags?post=10907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}