Spring often provides the effect of rejuvenation and revives us from the winter season. We hope our clients enjoy a happy holiday no matter if or which holiday you celebrate.
We Wish You a Joyful Easter, a Happy Passover, or a Beautiful Spring!
Subsidiary of EtaxService.com | Support Hotline: 877-ETAX-123 | 877-382-9123
Spring often provides the effect of rejuvenation and revives us from the winter season. We hope our clients enjoy a happy holiday no matter if or which holiday you celebrate.
We Wish You a Joyful Easter, a Happy Passover, or a Beautiful Spring!
U.S. expats are still required to file their taxes. If you have fallen behind, don’t worry, we can help.
Know Your Obligations – There are income thresholds and other factors that apply to expats. Make sure you know what you are obligated to file to avoid an audit.
Note: Most U.S. expats owe no money, but all are obligated to file.
If you have questions about filing your expat taxes, let us know. Expatriate Tax Returns provide solutions to help you stay legal, up-to-date, and make tax filing EASY for expats.
Expats should plan to file on time to avoid tax-related headaches. Knowing when documents are due ahead of time will help you prepare. Don’t wait any longer. Instead, get acquainted with the 2019 U.S. tax deadlines for expats listed below.
Most U.S. citizens recognize April 15th as Tax Day. This is the deadline for filing Federal Tax Returns. It’s also the deadline for filing your Foreign Bank Account Reports (FBAR). If you pay taxes in Maine or Massachusetts, then your filing deadline is April 17th because of the observation of Patriot’s Day and Emancipation Day.
It’s always recommended to plan to meet the earliest deadlines. However, if you are running behind, you can take advantage of an automatic extension available to expats. The extended deadline is June 17th. Interest will begin to accrue on any amount owed starting April 15th, so it is best to file sooner rather than later.
If you filed for a final extension, then your expat taxes will be due by October 15th. You must have all forms including FATCA, FBAR, and other documents submitted by this date. You must submit your request by June 17th to utilize the final deadline.
With changes in tax law and a process that can be complicated, all expats are advised to prepare and file their taxes as early as possible. Don’t rely on extended deadlines. Expatriate Tax Services can help ensure that you file correctly and on time. Contact us today to learn more about filing your US taxes as an expat.
YOU DON’T HAVE TO FILE A US TAX RETURN BECAUSE YOU LIVE ABROAD
Not so! US citizens and permanent residents must file a tax return no matter where they live or earn money, unless they do not meet the standard filing requirements.
IF YOUR FOREIGN INCOME IS BELOW THE FOREIGN EARNED INCOME EXCLUSION, FILING IN THE US IS NOT REQUIRED.
Totally false! Although the FEIE (foreign earned income exclusion) allows expats to exclude $104,100 (2018) of their income, a return must be filed to claim this benefit. Often times this exclusion is disallowed by the IRS if you wait too long to claim the benefit, so it makes good sense to file your return on time.
INCOME EARNED OFFSHORE IS NOT REPORTED ON YOUR US TAX RETURN.
Wrong! US citizens and permanent residents must report their worldwide income on their annual filing which includes: compensation, business income, sale of assets, interest, dividends, and any other monies earned no matter how or where.
Contact us for complete answers to your expat tax questions!
Sending our love to all who are working overseas this Valentine’s Day.
Originally it was thought the tax relief was on the horizon for expats when President Trump’s new tax program was put into law, but the reality is that nothing is really different from the new rules that apply to all US taxpayers:
The major change regarding international taxpayers is how Controlled Foreign Corporations are handled. Trump’s tax reform details a new category of corporate income called the Global Intangibles Low-Taxed Income (or GILTI), that requires recognition of a percentage of previously deferred foreign earnings and is now taxed as Subpart F income.
Current undistributed retained earnings are taxed at 15.5%, if held in liquid assets, and 8% if held in illiquid assets. This is a one-time tax and can be paid over 8 years.
Starting with your 2018 Corporate Tax Filing, everything is Subpart F Earnings. Any income in excess of $102, 100 (or $204,200 if your spouse is active in the business) will be taxed at ordinary income rates.
Questions regarding your unique situation can be directed to Expatriatetaxreturns.com.
Expatriate Tax Returns
Phone: 1-877-ETAX-123 (382-9123)
Fax: 561-516-6261
Corporate Office (Florida)
7865 Palencia Way, Delray Beach, FL 33446
Satellite Office (Michigan)
20164 Goddard Rd, Taylor, MI 48180
Phone: 734-285-5528
Satellite Office (UK)
16 Malvern Court, Onslow Square
London, UK SW7 3HU