Tax Return Compliance
U.S. Citizens and resident aliens living abroad are required to file a federal tax return annually and to report their worldwide income. Luckily, that doesn't always mean that you will owe tax in the U.S. The IRS has adopted special tax provisions to help mitigate double taxation. In addition to your federal return, expats may be required to file a state tax return. The filing obligation depends on the tax residency rules of the last state where. Some expats may be required to a state tax return even after they've lived overseas for an extended period of time. We will analyze your particular circumstances and will determine if you have state filing requirement.
For more information see the expat tax guide
Foreign Bank Account Reporting (FBAR)
In addition to filing a federal and state income tax returns, most expats with reasonable savings will also find themselves under an obligation to file form FINCen 114, commonly known as FBAR. This is a form that U.S. citizens or residents must file if the aggregate value of their foreign financial accounts exceeded $10,000 at any given time during the calendar year. The filing is simply informational and does not result in any tax.
Foreign Account Tax Compliance Act (FATCA)
Similar to the above mentioned FBAR, U.S. citizens and permanent residents who are holding foreign financial assets over a certain limit are required to disclose their interest in the assets by filing Form 8938. The threshold limit is based on your filing status and place of residency. The requirement is designed to ensure that Americans are properly reporting the income from their foreign investments. We will access your filing obligation and will determine which assets need to be disclosed.
Foreign Entity Reporting
U.S. citizens or permanent residents who have interest in certain foreign entities are required to file an informational return to disclose information about the entity. A return must be filed even if the entity had no activity or income during a given year. We will review you ownership in the entity structure, and will determine your filing obligation. Here are some of the forms you may be required to file:
Form 5471 - Applies to U.S. citizens and residents who are officers, directors, or shareholders in certain foreign corporations.
Form 8858 - Applies to U.S. citizens and residents who are direct or indirect owners of a foreign disregarded entity.
Form 8865 - Applies to U.S. citizens and residents who are partners of certain foreign partnerships.
The program is designed for delinquent taxpayers who would like to become current with the IRS. We will analyze your facts and circumstances to determine if you qualify under the program. After we make sure you qualify, we will prepare the filings to bring you into compliance.
Non-Resident U.S. Tax Return
Applies to foreign nationals who have a filing obligation to file a U.S. tax return. This situation often occur with nonresidents who are working or doing business in the U.S., students and scholars who earn income subject to U.S. Tax, and investors in the U.S. We will review your particular circumstances and will determine your filing obligation.
Whether you've received a tax notice or are facing an IRS audit, we can help make sure you are properly represented before the tax authorities.
This service is intended for people who are seeking tax advice for a particular situation and would like to discuss it with an international tax expert.