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Our Team of tax specialists will help you simplify the complexity of US legislation governing expatriates such as the "sourcing" of income and deductions. we assist you with all areas of individual tax return processing and planning, whether you are living in or outside of the United States. Overall, we ensure ease at complicated a little simpler, round the clock service.
Our resources in regard to tax research are state of the art. Our professionals are committed to helping our clients pay the minimum tax liability legally possible.
We assist you through filling your Federal tax return along with the required states also respective counties as necessary.
However, it is vital to structure the timing and payment of foreign taxes in order to obtain the maximum benefit from foreign tax credits. US Tax & Financial Services has years of knowledge and expertise in this area and provides proactive planning advice to ensure any excess foreign tax credits may be used effectively and efficiently.
Social security can be an important issue in the overall cost of an assignment. It is possible to establish continuing coverage under the "home scheme" if certain requirements and obligations are met by the employer and individual concerned. This could drastically reduce the cost of an assignment, while preserving a certain level of security for the assignee.
If you are an Americans citizen living overseas you may have recently realized that you are behind on your FBAR reports. The FBAR is a form that must be filed with the U.S. Department of the Treasury by any U.S. Person who has over $10,000 in overseas bank or financial accounts (at any point during the year). IRS has been fairly vocal by going after individuals who failed to file - bringing large penalties and potentially criminal prosecution. However, this latest Offshore Voluntary Disclosure Program (its third) as a way to encourage individuals to come forward with their offshore accounts.
Do not play double jeopardy! Non-filing tax returns puts you at risk (we describe the reasons on this page - Why Expats Should File US Tax Return). However, failure to file the FBAR is an even bigger risk; especially since FATCA has been enacted (You should really be sitting down before clicking on this link - Penalties for Not Filing FBAR).
In case if you receive any audit letter/notice/enquiry on your tax return, Best Tax Filer will represent your case before the IRS/State Revenue Department, regardless of who prepared your tax return. The IRS has three years from the due date of the tax return to assess any additional taxes that may be owed by issuing an Audit Letter. The IRS has the authority to examine the taxpayer’s books, papers, accounts and other records that supports the items considered on your filed tax returns. It is Best practice to keep the records that are relevant with respect to the filed tax returns for at least 3 years from the date on which you have filed your taxes.
Taxpayer representation is the process of assisting our clients in dealing with various taxing authorities, negotiating payment plans or settlements, and in some cases, representing our clients in court. We represent clients on a variety of taxation issues and guide them through the dispute process ranging from a collection action to administrative appeals through litigation.
The Internal Revenue Service is taking steps to improve the Individual Taxpayer Identification Number (ITIN). If you are seeking for any guidance on applying for ITIN for your Spouse/Kids/Parents/Other Relatives to claim higher tax benefits when filing your tax return, we can advise you on filling the Form W-7 and the procedure for attaching the necessary identity documents. During this process, they review supporting and supplemental documentation and forward applicable documents, certificates of accuracy and completed Forms W-7 to the IRS for processing.
If you are not able to file your federal/state individual income tax return by the due date, you may be able to get an automatic 6-month extension of time to file. AO Tax can help you file your extension for FREE regardless of whether you file your tax returns through us or not. Please be aware that an extension of time to file your return does not grant you any extension of time to pay your tax liability.
If you were a non-resident alien student, teacher, or trainee who was temporarily present in the United States on an "F,""J,""M," or "Q" visa, you are considered engaged in a trade or business in the United States. You must file Form1040NR (or Form 1040NR-EZ) only if you have income that is subject to tax, such as wages, tips, scholarship and fellowship grants, dividends, etc.
Your tax obligations will be different depending on your status, whether you are a Resident Alien, Non-resident Alien or Dual Status Alien. Your tax obligations will even depend on the country you are moved in or out, and even on your occupation. It really is a rather complicated process - but that is what we are here for. By asking the right questions, we determine your status and file the right tax return for you.