How the Foreign Account Tax Compliance Act Affects US Expats in 2026

In this episode of The Tax Strategy Podcast, Lucas and Luna break down the Foreign Account Tax Compliance Act (FATCA) and how it impacts Americans living abroad in 2026. They explain the FBAR filing threshold, the penalty for non-compliance, and why some expats are renouncing citizenship. Using the example of a US expat in Canada with a $75,000 retirement account, they walk through the reporting requirements and the foreign account exclusion. They also discuss recent IRS enforcement trends and the proposed FATCA reform bill. By the end, listeners will understand how to avoid the $10,000 penalty and whether the Streamlined Filing Compliance Procedures are still a safe option. #FATCA #FBAR #USExpats #ForeignAccount #TaxCompliance #IRS #StreamlinedFiling #ExpatTax #TaxPenalty #ForeignAccountExclusion #Finance #TaxPlanning #InternationalTax #Expatriation #TaxReform #FexingoBusiness #BusinessPodcast #TaxStrategy Keep every episode free: buymeacoffee.com/fexingo