A Letter from our Managing Member, Diane Siriani
Hello to all of our clients, friends and associates. All of us at ExpatriateTaxReturns.com and EtaxService.com LLC sincerely hope and pray that all of you are safe and of good health. This pandemic has touched every single one of us in a way no one would ever believe. Every continent, every country, every city, every individual in the world has been affected…this virus knows no boundry.
As you know, the US government has extended the filing of all individual tax returns to July 15. Estimated taxes that were due in April and will be due in June are also extended to the July 15 due date. Penalties and interest will be waived on all individual tax payments that were due from February 15 thru July 15.
The stimulus payments in the form of a refundable tax credit have begun to be directly deposited into US bank accounts. As of this writing, the IRS portal system that was supposed to be available to individuals to submit their US bank account number, is still not 100% operational. Hopefully this situation will be corrected soon, so that your payment can be deposited rather than waiting for a check mailed to your last known address. We have sincerely tried to keep up with your questions and give you assistance whenever possible, but this portal situation has made servicing our clients very difficult. We are truly sorry for the inconvenience, but it is out of our hands.
Originally I was told by the AICPA that the foreign income exclusion would effect foreign taxpayers in their calculation of their adjusted gross income. As of today, this issue still has not been clarified so we, like you, will see what happens. So far the stimulus rules are silent on this matter.
Our goal during these trying times has been to keep you informed of updates and changes as they occur. We hope you feel that we have accomplished that goal. As each day passes, hopefully we will continue to see a transition to a new normal and feel some relief of the stress and strain we have all suffered over the last several months.
May you and your family continue to stay safe and healthy.
Diane Siriani, CPA
Managing Member, EtaxService.com LLC & ExpatriateTaxReturns.com