Channelfog 2 Feb 16, 2018 11:08 AM Accountant for Expats We still use the same CPA we used for many years. We have no foreign sourced income and maintain a stateside address, so nothing has really changed and so no need for special accounting. She is constantly asking us if we have any foreign bank accounts which we did not have until this year. Failure to report same to the IRS is a minimum $10,000 fine. This is part of the FATCA act that was passed a few years to stop regular folks from hiding money abroad. It has not done much to prevent the huge multi-national corporations from evading billions in taxes that our country really needs though. It is interesting that the US is the only nation that taxes its' Citizens on 100% of the money they earn and spend abroad, though not a penny of that money touches US shores. The land of the "free" indeed.