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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Jordan RosenfeldSat, Sep 13, 2025, 1:16 PM 5 min readPresident Donald Trump’s One Big Beautiful Bill (OBBB) has several tax provisions that impact Americans residing in the United States. But what does it mean for Americans living abroad?Find Out: Here’s How Much Every Tax Bracket Would Gain — or Lose — Under Trump’s ‘Big, Beautiful Bill’Read Next: 10 Unreliable SUVs To Stay Away From BuyingIf you live overseas and file U.S. taxes, you’ll want to pay close attention to some of the changes. There are provisions related to the taxation of foreign income, a new tax on certain transfers of money, provisions for business owners and overall individual tax provisions, according to Lisa Greene-Lewis, tax expert and spokesperson at TurboTax.She and Chad Cummings, attorney and CPA at Cummings & Cummings Law, broke down what changes — or lack thereof — will affect expats whose finances are anything but simple.For expats who operate a business abroad, “The new law renames and reforms key international tax provisions, raising the risk of exposure,” Cummings said.In plain terms, the act:Sets a flat 14% tax rate on certain income from foreign companiesEliminates an exemption that used to shield earnings tied to physical assetsCuts back how much foreign tax can offset U.S. taxBusiness-owning expats can expect higher taxes, more reporting requirements and fewer ways to reduce their U.S. tax bill.Learn More: 4 Ways Trump’s ‘Big Beautiful Bill’ Will Change How You Plan for RetirementThe OBBB provisions make it a good time for expats to take a closer look at how they operate their businesses, as well.“U.S. persons abroad should act now to reassess entity structures, confirm reporting accuracy and re-optimize income flows,” Cummings said.In everyday terms, that means expats should:Check their business setup: Some foreign companies may now fall under tougher Controlled Foreign Corporation (CFC) rules that create new U.S. tax risks.Work with a cross-border tax advisor: A professional can help spot risks and suggest fixes.Review retirement and investments: Strategies that once saved money may now trigger higher taxes.Stay on top of reporting: Expats must file the Foreign Bank Account Report (FBAR) and the Foreign Account Tax Compliance Act (FATCA) forms every year.Fix past mistakes: If something was missed or filed incorrectly, the IRS has programs that let expats correct it before penalties pile up.Two tax provisions “remain structurally intact but provide no new relief,” including the foreign earned income exclusion (FEIE) and the foreign tax credit, Cummings said.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,584.29 -3.18 (-0.05%)Dow 3045,834.22 -273.78 (-0.59%)Nasdaq22,141.10 +98.03 (+0.44%)Russell 20002,397.06 -24.47 (-1.01%)VIX14.76 +0.05 (+0.34%)Gold3,686.40 +12.80 (+0.35%)PortfolioSign in to access your portfolioSign inTop gainersIONQ IonQ, Inc. 55.61 +8.56 (+18.19%)WBD Warner Bros. 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