US Tax Consulting – AnythingExpat Exp

While most countries tax on basis of residency, territory or domicile, the United States is one of only two countries in the world, which taxes their citizen based on citizenship. Even if you have never set foot into the US or your income is entirely from non-US sources, as a US citizen you will have to file a US tax return if your worldwide income exceeds minimum filing thresholds.

If you are a non-resident, you would only have to file a tax return if you have US-source income (e.g. from employment, investments, rental or business activity) or chose to file a joint return with a US-citizen spouse. A US citizen married to a non-resident spouse must otherwise file as married filing separate with a much lower threshold for filing requirement.

As a CPA firm, we are here to consult you on tax implications and planning opportunities. We will help you meet your tax compliance obligations.

As US tax resident with foreign bank and financial accounts exceeding in aggregate $10,000 at any point during the year you must also file an FBAR (Report of Foreign Bank and Financial Accounts) with the US treasury.

Behind or unaware of your tax filing obligations?

The good news is that it is not too late to catch up on compliance without getting penalized.

For US citizens who can demonstrate and certify that their failure to file and pay taxes was non-willful, the IRS has created an amnesty program, the “Streamlined Foreign Offshore Procedures”, which allows taxpayers abroad to become compliant without penalties. No matter how many years have been missed, it only requires submission of the last three past due income tax returns plus 6 FBAR reports.

Our services

US tax consulting and planning with a view to US tax implications
US tax planning in consideration of applicable tax treaties and local laws
Preparation and e-filing of US Tax Returns (Federal and State)
Reporting on Foreign Accounts (FATCA, FBAR)
Guidance and Support with IRS Offshore Streamlined Filing Procedure
As IRS-authorized acceptance agent, assistance with ITIN applications