Xero U.S. President Jamie Sutherland discusses the company's accounting software and business strategy with Deirdre Bolton on Bloomberg Television's "Money Moves." (Click to View)

Intuit Acquires FullSlate, An Online Scheduler For Small Businesses

Alex Williams for TechCrunch writes: Intuit is acquiring FullSlate, an online scheduling company that allows clients to offer their customers the ability to make appointments directly to web sites and Facebook pages. Terms of the deal were not disclosed.

The service will become part of Intuit demandforce, a marketing platform for small businesses. Demandforce has tools for communications, to help clients keep in touch with their customers through email and SMS messaging. It also has online reputation tools that help clients reach out to their customer base for reviews that then get distributed to top sites. The scheduler from FullSlate will become part of this portfolio, along with its e-commerce platform that allows for payments to be made that are tied to a particular appointment.

The FullSlate service has a host of scheduling services. It allows for customers to use an embed code for the online appointment scheduler that they can place on their web site. The company also offers a Facebook app that allows for scheduling to a Facebook business page so clients and their friends can make appointments without leaving Facebook.

Customers can also create a landing page for a business with a logo, business hours, map and online scheduling. The service works on iOS and Android devices, calendar syncing, a client database and email marketing capabilities.

Intuit has made a number of acquisitions this year with a particular focus on the small business, their bread-and-butter market.

VentureBeat's write up by Rebecca Grant: 

Intuit has acquired Full Slate, which makes appointment scheduling software for small businesses.

Full Slate will join the Intuit’sDemandforce team and will integrate its scheduler, customer relationship management, and e-commerce capabilities.

Small businesses can quickly embed an online appointment scheduler with Full Slate’s website widget, complete with real-time openings, custom booking forms, and instant alerts

Demandforce is an Intuit property that offers automated marketing and communications tools for small businesses. It helps them engage with their customers, collect verified feedback from clients and promote it on the Web, and build their online reputations.

Clients are businesses like salons, auto shops, chiropractors, dentists, and veterinarian, where appointments make up a core part of their business.

The acquisition of Full Slate will let Demandforce clients easily set up online schedulers.

Full Slate said that having an appointment scheduler on a website is like having a “virtual receptionist 24/7.” This one feature can reduce the amount of missed calls, lost leads, and no shows, convert potential clients and keep the loyalty of existing ones.

The company was founded in 2008 to help small businesses better sell their services on the Web.  Full Slate claims that over 70% of consumers say they want to make appointments online, and this kind of convenience can be the deciding factor when choosing a service provider.

The amount of the deal was not disclosed.

Intuit is an active acquirer and this is its sixth acquisition this year.

Last week it announced the purchase of Level Up Analytics and purchased a tax-focused startup called GoodApril in August, before the company even demoed its product.

Xero Review from MerchantMaverick (Merchant Accounts, POS Software, Shopping Carts)

Katherine Miller for Merchant Maverick writes: 

Merchant Maverick's Rating: (4.5 out of 5)
Overview:

Headquartered in New Zealand, Xero is a cloud-based bookkeeping/accounting solution tailored to the needs of small to mid-size businesses. Features include account management, billing, invoices, expense reporting, and payroll (U.S. version in development). Xero also integrates with over 200 other applications which facilitate nearly all aspects of business operation, including inventory management, CRM, and POS.

Rod Drury (CEO) founded the company in 2006. He also serves on the board of TradeMe (New Zealand's largest auction site), and in addition to establishing Xero, he has founded Context Connect and Glazier Systems (now Intergen). His numerous accolades include the NZ Hi-Tech "Entrepreneur of the Year" award (twice), Honorary Fellow of the Institute of IT Professionals, and induction into the NZ Hi-Tech Hall of Fame. Like its founder, Xero has garnered its share of awards over the years, including Australia's National iAward for Payroll in 2013, Hi-Tech Company of the Year at the 2013 NZ Hi-Tech Awards, and Webby Awards in 2009 and 2010. Xero is a publicly traded company with a staff of over 300. They support over 100,000 business clients and nearly 5,000 accounting firms.

Xero was an early entrant in the rapidly growing field of cloud-based accounting solutions, and they work hard to stay ahead of the curve with product updates every 3-6 weeks. A "Feature Request" and voting system in their community forums allows the company to develop the software in accordance with user requests. Currently in development are payroll support for the U.S., a purchase order feature, and a new reporting framework.

Xero advertises their service as "beautiful accounting" and it's an apropos slogan. With clean, generally intuitive interfaces, Xero is an excellent solution for many small businesses' accounting needs, offering a wealth of features while providing more simplicity and personalized service than most locally installed programs. Read the full review to learn more about whether Xero could be a good fit for your business.

Date Established:

July 2006.

Location:

Global HQ in Wellington, New Zealand; offices in Australia, UK, and the US.

Domain Name(s):

www.xero.com

Pricing:

You can try the full version of Xero free for up to 180 days, no credit card required. During this time, you can process up to 5 sales invoices, 5 bills, and reconcile up to 50 bank statement lines. You can also enter an unlimited number of historical invoices and bills. After the trial, Xero offers 3 pricing tiers. There are no contracts; you pay monthly and you can cancel the service at any time. The price includes updates as they are released, usually every 3-6 weeks. There is a 25% discount for non-profits.

• Small: $19/month. - Recommended for freelancers or small property investors, this subscription allows you to process up to 5 invoices and 5 bills each month, and to reconcile up to 20 bank statement lines.
• Medium: $29/month. - Suitable for most small businesses, this subscription allows you to process hundreds of invoices and bills each month, and to reconcile hundreds of bank statement lines per week.
• Large: $39/month. - Similar to the Medium subscription, but adds the ability to process multiple currencies.

Web-Hosted or Locally Installed:

Web-hosted. No downloads or installation required.

Hardware and Software Requirements:

Since Xero is cloud-based software, it is compatible with any OS (Mac, Windows, or Linux), so long as you have internet access. Xero also has a mobile app for iPhone, Android, and Blackberry.

Specific Size of Business:

Xero is tailored to small businesses. You can grant access to an unlimited number of users, both within and outside of your company. You can also adjust settings to customize each user's level of access.

Ease of Use:

I found Xero's interface clean, well-organized, and wonderfully easy to navigate.

• Setup - When you first sign up for an account, you'll be prompted to set up your company through a series of fairly self-explanatory screens, each with its own easily accessible help section. There are also a series of "Getting Started" videos which, while some are slightly out of date, provide good, concise advice as to setting up your business with Xero. You have the option to save and quit at any point during setup.
• Organization - Once set up, navigating is a pleasure. The dashboard offers a quick overview of accounts, and it is easy to see items that need attention (overdue bills, for instance) at a glance. In addition to the dashboard, there are tabs for Accounts, Reports, Adviser, Contacts, and Settings. Each provides access to a variety of drop-down options, and they're organized pretty intuitively. Usually, I found things in the first place I thought to look.
• Instructions and Guidance - Xero provides a "Getting Started" text box at the top of some pages which provides handy tips; it's easily hidden once you've mastered the content. How much you need to read instructions in order to use the software will likely depend upon your accounting knowledge and the complexity of the tasks you are attempting. I had no problem setting up accounts, invoices, or expense reports, but I did find myself referring to the help section routinely for more complicated tasks.
• Problems - There are a few minor annoyances. The detector for duplicate imported entries in bank accounts is a little lax for my taste; it did not raise the possibility of a duplicate when the dates and amounts of a transaction were a perfect match, apparently because one of the transactions was missing the name of the payee. Depending on your bank, you may need to make some adjustments to csv files before they will import correctly, and when I first imported a qif file, all payees showed up blank (not a problem on the next import, so I'm not certain what happened there and it may well have been user error). However, these are very minor concerns, on the whole.

Customer Service and Support:

I will confess, Xero's lack of phone support was an initial concern for me, and I still think they'd do better to offer it. I was, however, pleasantly surprised at their responsiveness to e-mail. In my tests, response times generally varied from 15 to 40 minutes. The one time I used the Contact Form instead of e-mail, the response took 6 hrs; whether this was because they route those requests differently or because the question took longer to resolve, I don't know. Overall, I was quite impressed with the quality of support. Representatives were concise, polite, knowledgeable, and always addressed my concerns directly - no copy/paste responses here.

Customer service support is available 24/7/365 and is included in the monthly fee. Here are the support resources Xero offers:

• E-mail - Contact Xero at support@xero.com.
• Contact Form - An option to use the online contact form will appear every time you search Help.
• Social Media - Xero generally responds to questions on theirFacebook, LinkedIn, and Google+ pages within 24 hours, as well as maintaining an active Twitter feed.
• Online Help Center - A comprehensive selection of detailed instructions, FAQ, and video tutorials.
• Training and Events - A small selection of pre-recorded and live webinars tailored to business owners and to accountants.
• Getting Started - Tips in a text box at the top of pages which may require some initial instruction. Can easily be toggled on/off using the Help drop-down menu.
• Community Forums - Discuss problems and solutions with other Xero users; also includes an area for feature requests.

Negative Reviews and Complaints:

Scouring the net for complaints about Xero was an arduous process; there's just not a lot out there. The only time Xero appears on ComplaintBoards is when people say they're switching to it. Of the very few critical remarks I located, here are the most common themes:

• iPhone/iPad App - This is the only area where I saw a significant number of complaints. Repeated comments from users who love Xero on the desktop but hate the app. Limited functionality was by far the most common concern. The current version of the software has only 2 of 5 stars based on reviews in the iTunes app store. I did not notice corresponding criticism from the Google app store.
• Lack of Phone Support - While the overwhelming majority of users seem to be happy with Xero's support, there are some who complain about overly long resolution times and lack of accessibility by phone. The worst case I saw was a forum post from a business owner who had brought up a support issue 20 days ago and was not receiving adequate updates as to progress on the issue. The issue was resolved within 24 hours of his post, accompanied by an apology from Xero.
• Automated Bank Feeds and Yodlee - Xero offers automated bank feeds, which is a tremendously convenient feature. However, they do so through Yodlee, and using Yodlee may break your bank's T&C. This becomes a problem if Yodlee's data is ever compromised, because neither your bank nor Yodlee will insure you against loss in that case - and Xero doesn't post any kind of warning about this when you go to set up automatic feeds. To be fair, so far as I know this is currently an issue with every company that offers live feeds. And if you want to avoid it entirely, you can always download statements manually. Check with your bank if you have questions.
• Lack of Minor, Basic Features - Another complaint from a few users was the lack of some basic features, like the ability to send a receipt to a customer after they pay an invoice and specific support for cash accounts. (In Xero, cash accounts have to be set up as bank accounts.)

Positive Reviews and Testimonials:

A lot of people love Xero. It has a 4/5 star rating on Google Apps and positive reviews all over the net, as well as the expected raves on Xero's customer testimonials page. The most common accolades are as follows:

• Ease of Use - Users find Xero extremely intuitive in layout and design. A lot of people call the software "fun" and say that it has taken the pain out of accounting.
• Time Saving - Xero has a number of features which customers praise as time savers, including automatic bank feeds, billing, invoicing, and options for group invoices.
• Customer Support - Nearly every comment I've seen regarding Xero's customer support is positive. Users find support well-informed, responsive, and polite. My own experience with them was excellent.
• Feature Set - Most users love Xero's feature set, as well as their responsiveness to new feature requests. The frequent update schedule has also triggered several positive comments.

Here's what a few people are saying:

Xero has really cut my accounting time by 80%. It gives me goosebumps thinking about all that extra time I have. - Bridget Labus, Co-Founder of Sixth Course

The essence of a great accounting system is not to make simple things complicated, but to make complicated things simple. Xero have achieved this! - Nathan Stewart, Founder and CEO Alkemi

With Xero, I'm actually enjoying doing the books for my business, and because I'm doing the reconciliation almost everyday, my month-end is a very simple. - Jesse Bennett-Chamberlain

And from Google app users:

The best accounting app. Period. And I tried them all. Xero is more powerful then any other online accounting app I've seen, but still easy to use. A rare combination. - Floris van Onna

It sounds crazy but Xero is actually a pleasure to use. Not something you'd associate with accounting software! - Joshua Farmer

Features:

Xero offers a comprehensive feature set well beyond many cloud-based accounting systems. Here are some of Xero's key features (for the full list, clickhere):

• Dashboard - An overview of accounts and upcoming accounts payable and receivable. Extremely well-organized; easy to take in the important information at a glance.
• Invoicing - For invoice design, you can simply upload your logo to Xero's templates or you can custom design your own. You can include direct payment options for Paypal and credit cards, allowing your buyer to pay immediately by clicking the link on the invoice. Automatic invoicing is also supported, if you have customers who you bill monthly or weekly. Tracking options allow you to keep tabs on invoices and see when they've been opened, as well as keeping an eye on any that are overdue.
• Bank Reconciliation - Live bank feeds make balancing accounts incredibly easy. The categorization feature sorts each entry by type (you may need to enter it the first time; afterwards the type will appear automatically on subsequent transactions). For tax time, this is invaluable.
• Accounts Payable - Suppliers can send invoices directly into your Xero accounts payable section. Offers an interactive timeline with a batch payment option. You can also set automatic payments for recurring bills.
• Payroll - (Coming soon for US.) Includes automated tax calculations, employee access to paystubs, direct deposit, and electronic tax filing.
• Reporting - Xero has over 40 report options available, from basic profit/loss to foreign currency gains and losses. All reports can be exported to Excel, Google Docs, or a pdf. You can also use Xero to create 1099s.
• Expense Reports - A well-executed time saver. Employees can enter their expense reports and receipts into the system (access settings allow you to confine each employee's view to the data they have entered). You can then review and approve employee expenses and receipts; it's easy to see when there are new reports awaiting your approval.
• Inventory - Xero supports basic inventory management; for more advanced features, you can integrate an add-on such asUnleashed, Stitch Labs, or OrderHarmony.
• Contacts - Option for group invoicing; you can also track each client's transaction history and analyze your client list by spending and payments. Contact entries are automatically created each time you enter a new name on an invoice; you can also import your existing client list.
• Fixed Asset Depreciation - Automatic tracking; enter the initial purchase and depreciation rate and software tracks it for you. Saves some time when tax time rolls around.
• Multi-Currency - If you do business internationally, multi-currency support will be a crucial feature. Exchange rates are updated every hour; you can invoice and set reports in any currency.

Integrations and Add-Ons:

Xero offers automatic bank feeds through Yodlee, as well as Paypalintegration. Over 200 add-ons are available for Xero. Some of the most notable and popular are:

• Vend - Cloud-based, HTML5 point of sale software Read our review here.
• Shopify - Online store creation and shopping cart solution. Read our review here.
• WorkflowMax - A project management tool, owned by Xero.
• Unleashed - An inventory management tool.
• Salesforce (through OneSaaS) - Customer relationship management software.
• Receipt Bank - No more data entry from receipts.

Security:

You aren't likely to find much to beat Xero's security. They take pride in noting that their software has never been breached. All user data is SSL encrypted, and servers are protected from both electronic and physical access by any unauthorized personnel. They also undergo routine third-party security audits and penetrative testing.

Customer data is backed up daily to an off-site location.

For complete details on Xero's security measures, click here.

Final Verdict:

For many small businesses, Xero is a fantastic cloud-based accounting solution. It offers a good midpoint between comprehensive installation-based software (much of which is more than most small businesses really need) and bare-bones cloud-based accounting software. I found the feature selection excellent and Xero's claim of providing "beautiful accounting" accurate. As for whether the convenience and functionality are worth the price tag ... that's something that will vary according with the needs of each business.

Xero's upcoming payroll feature looks very exciting, and I am encouraged by their routine update schedule, as well as the fact that they take customer input into account when adding new features. If you're considering whether Xero might be a good match for your business, I'd suggest taking it for a test run yourself with their free trial.

Intuit up with the market with new integrated payroll solution / Australia

Peter Dinham for ITWire writes: Global online accounting solutions provider, Intuit, has now matched its competitors in the Australian market with the release of a fully integrated payroll solution for QuickBooks Online.

The payroll solution is fully integrated into Intuit’s Quickbooks platform through a strategic partnership with local online payroll provider, KeyPay.

The QuickBooks payroll solution is currently in beta and available to customers on an invite-only basis.

Intuit launched the latest generation of the Quickbooks Online platform just last month, saying it was its “biggest release in decades” after a complete rebuild of Quickbooks. Unlike competitors Reckon, MYOB and Xero, the release did not include an integrated payroll solution.   That’s been corrected with the launch of this fully-integrate payroll solution.

Brad Paterson, Vice President and Managing Director of Intuit’s Asia-Pacific region, said the integrated payroll solution will be generally available by the end of November and will be free to small businesses for up to 10 payroll employees. 

“Payroll is a crucial part of any business. We are focused on providing small businesses with the right tools to help make it easier to do business and make better business decisions.

“The KeyPay solution is proven to be one of the leading online payroll solutions in the market. We believe the integration with KeyPay will bring the most powerful yet easiest-to-use solution to our small business customers.” 

According to Paterson, the new payroll solution features a seamless experience with a single login, a single browser, and a “consistent look and feel” on one single QuickBooks platform, and allows small business owners to manage payroll the way they prefer “with great flexibility and complete control.”

Paterson said one of Intuit’s goals in working with third parties was to provide the best solutions for small businesses. “As we build the partner ecosystem in Australia, we will integrate more best-in-class solutions with QuickBooks to make it a powerful tool for small business customers.” said Paterson. 

He said with the new integrated payroll QuickBooks Online users can now: 

•    Enjoy greater flexibility - Configurable pay schedules and employee details, such as pay rates, super rates and leave accrual rates, make it easy to match payroll to business operations

•    Save time and money through automation - Simplify payroll with automated super payments, pay slip notifications, and termination and leave calculations. Plus tax tables are updated automatically every year for free

•    Enhance productivity with effective management - Add shift-based timesheets directly in to a payrun; no more chasing down staff or calculating hours. The self-service portal gives emloyees easy access, allowing employees to manage their details, leave, super and bank accounts online easily.

Richard McLean, co-founder of KeyPay said, “We are very excited to work with Intuit and be part of their partner ecosystem. KeyPay has a unique offering in the Australian market and we have a strong customer base since it’s launched. Now with Intuit, we are able to extend the outreach even further and demonstrate the benefits of our solution to more small businesses.”

Paterson said Quickbooks desktop and MYOB users could also take advantage of the new integrated payroll offering via a free conversion service provided by Intuit in partnership with Odyssey Resources.

In a reflection of the highly competitive online accounting market now front and centre in Australia, Intuit’s announcement of its conversion service follows MYOB’s upping of the ante just three weeks ago in the marketshare battle with the release of its own conversion service which it said would “empower business operators” to switch from Xero or Quickbooks to its cloud-enabled accounting solution, AccountRight Live.

Intuit’s Paterson says the new conversion service will move the data to Intuit QuickBooks Online cloud solution “quickly and smoothly.”

For information on Intuit’s conversion service go to

Free Webinar: Cloud Accounting - How Does Your Company Stack Up?

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from Bill.com

Tax Filing Obligations & Deadlines for International Students in the U.S.

Sprintax writes: Studying in the US can be an enriching experience, not just for your education but also for your personal life as you explore a new culture and make new friends. But just because you’re abroad doesn’t mean you have no obligations – especially when it comes to your tax obligations. Luckily, Sprintax is here to tell you everything you need to know about your tax obligations while you’re studying in the US.

Resident or non – resident for tax purposes?

As an international student visiting the US, you will probably be given the status of non – resident for tax purposes. However, this doesn’t mean that you’re exempt from filing a tax return, it just means that you are required to fill out different kinds of tax forms.

Occasionally international students are classes as residents for tax purposes based on how long you’ve been in the country for previously. To determine your residency status you can take the Substantial Presence Test – if you pass the test it means you are a resident for tax purposes and have been physically in the US long enough. This includes:

-          31 days of the current year

-          183 days over the past 3 years

When counting the 183 days over the past there years, you can only include a third of the days you were physically present in the US last year and a sixth of the days you were present in the year before that.

Sometimes figuring out whether or not you pass the Substantial Presence Test can be complicated – that’s why Sprintax makes it easy for you by asking you a series of questions straight off to see if you pass this test!

What forms do I have to file as a non- resident for tax purposes?

The forms you will have to complete are as follows:

Form 8843 – an informational document which all non-resident international students have to file, regardless of employment.

1040 NR / 1040 NR EZ – The standard federal tax forms which all non-residents have to fill out.

State tax form – these differ from state to state

If you’re received income while you were studying abroad through a part time job you will also need to fill out a W-2 form. You should receive your W-2 form before the end of January. If you don’t receive your form by then you should call your employer and ask them to send it out to you.

If you received a scholarship, you will need to fill out a 1040 – S form as scholarship money is considered a type of income.

The great news is that Sprintax can fill out all these forms for you – all you need to do is provide us with a few details then we’ll fill out your forms and send them in to the tax office. It couldn’t be easier!

When is the tax filing deadline?

Both Federal and State tax forms must be submitted by April 15th every year, i.e. Tax Day.

If you had no source of US income then you must file Form 8843 by June.

Anything else I need to know?

When it comes to Form 8843, you absolutely must fill it out. It is a strict requirement for all international students visiting the US, not to mention it’s necessary to fill one out to maintain your non – resident for tax purposes status.

To fill out your tax return – Form 1040 NR / 1040 NR EZ – you must have either a social security number or Individual Tax Identification Number (ITIN). An ITIN is given to you if you don’t have a social security number, and the great news is that Sprintax can help you get one.

Want to know more about Sprintax?

If you’re confused about your tax obligations during your time in the US, then contact the Sprintax team. We created our service specifically for international students studying temporarily in the US and have filed tax returns for thousands of students already – just check out what they have to say on our website! Our service makes everything easy for you – all you have to do is provide us with a few details via our online registration form, then we fill out the correct tax forms for you and send them in to the tax office. As a registered tax agent, we know the tax code inside out and upside down, so we can file your tax return for you quickly and correctly while you get on with doing the things you love. Not only that but we guarantee to check if you’re due a tax refund in the process and get you the biggest legal tax refund possible. Sounds good, doesn’t it?

U.S. expats cry foul over tax system

Sophia Yan for CNN Money writes:   If you think filing your taxes is a pain, try talking to one of the 6 million Americans living abroad.  Unlike citizens of most other countries, Americans are legally obligated to file U.S. taxes each year, even if they are living and earning income overseas.

Problem is most expats are also required to pay taxes in their country of residence. This means two huge piles of paperwork, two sets of deadlines and one giant struggle to keep pace with a complex mess of ever-changing regulations.

"As soon as I moved overseas, that's when things got very complicated," said James Rosenberg, an IT professional who owns a business in South Korea.

While living in the U.S., the Iowa native was able to prepare his returns using TurboTax. That's no longer the case -- Rosenberg's taxes are now so complicated he has been forced to hire an accountant.

Rosenberg isn't alone. American expats told CNNMoney they are overwhelmed by filing requirements, and many are struggling to find accurate and up-to-date information. Some said they were given conflicting instructions by the IRS, or received bad advice from independent tax advisers.

Some expats said they are so exasperated by the current system that they are considering a move back to the U.S. -- or in other cases, starting the process to renounce their American citizenship.

Related story: Americans turn in passports as new tax law hits

Divesh Agarwal, an American living in India, said he has not been able to find a local accountant who knows enough about American tax law to handle his return. Agarwal said he spends hours scouring the Internet for tax tips because he doesn't want to spend thousands of dollars on an accountant.

"I don't see any improvement, I only see it getting worse," Agarwal said.

Americans are generally exempt from paying tax on their first $95,000 in foreign income, but they are still required to file a return. And there are a number of things aside from salary that the IRS considers income, such as housing allowances or school stipends -- benefits that companies often use to entice Americans to move abroad.

Air Force veteran Gordon Peters found this out the hard way. None of the tax advisers he consulted before taking a gig in Beijing earlier this year mentioned that he would be taxed on benefits.  Peters had received a housing and education benefit as part of his compensation package as a medical director. The unexpected tax burden, he said, has just about erased his disposable income.

"I make a fairly nice wage, but we end up having to count pennies at the end of the month," Peters said.

Sometimes, even the IRS is a source of confusion for expats.

Bob Simison, who has lived in Australia for nearly a decade, said he was spending 40 hours a year to prepare his returns -- even though his income wasn't high enough to owe anything to Uncle Sam.

Then the IRS sent him a bill for thousands of dollars in unpaid taxes.

Simison believed the IRS had made a mistake, but was unable to find an accountant in Australia with the knowledge to help. So he contacted the agency himself. Simison said the process was "atrocious" -- and he was given conflicting instructions, and then an even larger bill, before the dispute was resolved a year later with help from a U.S. senator.

"The process is far more complex than it needs to be," Simison said. "We're just normal people. We don't have big business interests, no huge savings accounts, no heavy investments or anything."

In recent years, the burden has become even greater as new laws designed to crack down on overseas tax cheats have pushed even more paperwork on expats.

When asked by CNNMoney to comment about the tax troubles that expats face, the IRS responded with a link to information about paying taxes while abroad.

The burden is leaving some expats with a tough decision to make -- and advocacy groups are quick to point out an increase in Americans who chose to renounce their citizenship.

Others, like Peters, are considering giving up their careers abroad in order to return to the U.S. to reduce their tax pains.

"If it continues like this, I'm going to have to say that it was a great experiment, but it can't continue," he said. "The tax law makes it very unattractive for Americans to go abroad."