US Expat Tax Preparation

Home US Expat Tax Preparation

Veteran CPAs at your disposal for your US Expat Tax Preparation Needs

Taxation can be an extremely burdening and worrisome domain for many taxpayers. US Expat Tax Preparation, in particular, stands to petrify many taxpayers. Since complexities wrap this tax domain, professional guidance in the form of  US expat tax consultancy services is required to understand such intricacies. With many technicalities involved in US expatriate tax preparation, minute details and changes might go unnoticed at an initial stage and can prove disadvantageous at a later one. Expert insight is a must in tackling such issues. Utmost accuracy and precision are required while filing various expat tax forms, and it is a must to ensure that each step is done timely and efficiently. Smart Accountants is at your rescue for all hassles related to US expat tax preparation and filing services. We have an experienced and  trained group of expat tax consultants who have carved a niche for themselves in the field of taxation-related matters. Our team’s excellence in US expat tax return preparation stands unparalleled.

US expatriate tax return preparation services offered at Smart Accountants have been enlisted below for your reference –

US Tax Treaties Benefits And Planning:-

  • The United States has entered into different expat tax treaties with various nations. Under these treaties, US citizens in foreign countries may either be exempted from paying the US expat taxes or be charged at a lower rate. However many and to never miss out on the benefits you may avail. Our honed team at Smart Accountants provides the best expat tax services and would always keep you updated with all the available tax deductions and exemptions per multinational treaties and IRS regulations.

IRS Amnesty Program for late filers:-

  • These are special programs designed for delinquent expat tax filers and payers. It provides them with an opportunity to pay back the expat taxes they owe with some penalties or waived interests. The IRS Amnesty Program encourages many defaulters to pay their pending taxes. Smart Accountants would keep GT updated with every minute detail of this program so that you don’t miss this redeeming opportunity.

Non-resident 1040 NR:–

  • This form is to be filed by a non-resident person engaged in trade or business in the US or someone representing a deceased person who would have filed this form or if an estate or trust is being represented that would require filing this form. Our skilled team of expatriate tax preparers would back you through all the requirements regarding the procedures for filing this form.

FBAR Filings Form 114 :-

  • This form was initially known as FinCEN 114 and is required to be filled by US expats to disclose their foreign bank information to the US treasury every year. This helps the IRS understand the income sources and the true worth of an expatriate individual. We simplify technicalities relating to these forms at Smart Accountants.

FATCA Form 8938 :-

  • This form is required to be filed by those individuals whose specified foreign financial assets exceed the appropriate threshold. Various details are required to be kept in mind while going about this form, and you needn’t worry about that because Smart Accountants is at your service to provide the best expat tax assistance and help you gain the best out of everything and also prevent you from making any errors.

ITIN Application Services :-

  • The Individual Taxpayer Identification Number is a unique taxpayer processing number that the Internal Revenue Service issues to individuals who need to have a US taxpayer number. This number is needed for individuals who could not have a Social Security Number (SSN) from the Social Security Administration for various reasons. It basically facilitates the process of expat tax returns and payment for individuals who do not have SSN. The IRS issues it irrespective of the individual’s immigration status.

Forms 5471 and 8992 [GILTI]– ownership interest in a foreign corporation :-

  • Form 5471 is officially called Information Return of US Persons concerning certain Foreign Corporations. It is used for information return of US taxpayers who have certain interests in some corporation based abroad. Form 8992 is used for the US Shareholder’s calculation of Global Intangible Low Taxed Income (GILTI). US shareholders of controlled foreign corporations (CFCs) use this form along with Schedule A to calculate their GILTI inclusions and other similar regulations. Smart Accountants would keep you updated with the forms you need to file and other expat tax preparation requisites through its efficient team. We help you in adhering to the deadlines and all other specific requirements of expat tax filing. 

Form 5472 (Indian company details) (+ Form 1120 and A single-member LLC) – When a foreign-owned US corporation must file Form 5472:-

  • The IRS designed Form 5472 to reveal the transaction the Reporting Corporation has made with an international party or a domestic party. All the technical nitty-gritty of this procedure would be managed well by our experts at Smart Accountants. This aspect of expat tax filing being a bit complex procedure, professional help would ensure greater precision and accuracy.

US Income Tax Returns Form 1040 :-

  • In essence, individual taxpayers file their taxes with income tax return form 1040 with the IRS. Whether the taxpayer has any taxes due or is entitled to a tax refund is determined by this form. There are various supplemental 1040 forms available for different situations. Smart Accountants Team shall help you comprehend the compliances regarding form 1040 along with additional schedules you need to file. 

Form 8865: ownership interest in a foreign partnership :-

  • According to the US owners of an eligible foreign corporation, an entity is often treated as a disregarded entity. In such a case, the disregarded entity is seen as a foreign partnership, and any US person who owns an interest in such a foreign entity needs to file Form 8865 for federal tax purposes. With its elite expatriation tax planning, Smart Accountants can assist you in the filing of Form 8865.

Small Business Tax Return Preparation :-

  • If you need budget-friendly professional CPA assistance for small business tax preparation, our firm can be your ally. There are different procedures for partnerships, fully owned businesses, and other forms of business ventures. Our team adroitly walks you through the processes involved and offers premier guidance for the tax decision of your small-scale business venture.

IRS Letters Review (Specifically for Expatriate :-

  • An IRS letter mostly results from the following reasons:-
    • Incorrect information provided
    • Errors made in tax return preparation
    • To notify amendments required in the earlier prepared return.

    In the domain of expatriate tax preparation, the possibility of mistakes is high. Thus, whatever may be the case, our team is quite skilled and experienced in tax preparation for expats, and will help you with the full procedure based on the review of the IRS letter you receive. We help you plan the next course of action after a thorough assessment of the information from the IRS.

Amended Tax Return :-

  • There are a lot of reasons that may lead to the need to amend your tax return. Thus, expats may have to file an amended tax return based on their circumstances. The point to be noted here is the time period to file an amended tax return with the IRS ceases after a tenure of three years from the due date. Hence if you feel that you are entitled to the amended tax return for the relevant financial year, you need to act fast. Our team of maestros in US tax filing for expats will handle this issue like a pro.

Streamlined Foreign offshore filing [Green Card Holders] :-

  • The IRS has designed this offshore compliance program for non-U.S. residents for reporting assets, income, or foreign accounts. Usually, the failure to disclose relevant offshore income details can lead to severe penalties and fines for US expatriates. The streamlined foreign offshore filing can help to avoid these tax penalties. With the right expatriate tax preparation services, fulfill all the requirements with ease in the set timeline.

Repatriation related assistance :-

  • Repatriation comes with various obligations for US taxpayers, and it is only sane to realize its consequences before proceeding with such a step. If you plan to return to your home country from the US, you must consider expatriate tax preparation consultation. The process involves applying for the certificate of loss of nationality, which may take several months to complete. Smart Accountants can help you in streamlining and accelerating the process.

Foreigners Investing in the US Real Estate :-

  • The rules governing the process of acquisition of real estate properties in the US can be perplexing. Foreign investors in US real estate are subjected to diverse income tax regulations. Balancing US federal income tax considerations and US federal gift and estate tax is the key to successful investment. The federal income tax filing rates are the same for both US residents and foreigners. However, it’s the federal estate and gift tax that applies to foreign investors and can take a huge toll on the foreign investment decision. It requires detailed tax planning. At Smart Accountants, we have expertise in US expat tax preparation services and enable you to determine the best options to comply with US tax filing needs. We carefully analyze the client’s requirements to offer world-class expatriate tax preparation services.

Augment your business to grander scales with Smart Expat Tax Preparation!

  • Smart Accountants is your ultimate destination for Finance, Tax, and Accounting services. Along with US expat tax services, we also excel in various finance, audit, and accounting services. Our skilled and experienced professionals work day and night to help your US business grow without any tax defaults and penalties. Are you thinking of moving outside the US? Consult our team today for details on our best expat tax service.

Make An Appointment

 Over 14+ years of experience we’ll ensure you get the best guidance