american expat tax services

US Expat Tax Services

Following the latest aggressive efforts by the IRS to combat tax evasion, most American expats find it more difficult to comply with ever changing US filing requirements. Moreover, a failure to file FBAR FinCEN Form 114 (Report of Foreign Bank and Financial Accounts), FATCA Form 8938 (Foreign Account Tax Compliance Act) as well as many informational returns can result in significant penalties.

International experts at Artio Partners offer a full range of American expat tax services and will be pleased to assist US expats. Artio Partners is an award-winning firm that is committed to offer solutions to simple as well as highly complex expat cases.

We Offer American Expat Tax Services:

Federal Income Tax Return Preparation

Citizenship-based taxation is the foundation of the US tax system. Consequently, US citizens and green card holders are required to report their worldwide income and file a US federal income tax return regardless of their country of residence. Our expat tax experts will review individual circumstances, prepare a federal income tax return and ensure that a client utilizes all possible deductions and exclusions like the foreign earned income exclusion, foreign housing exclusion and foreign tax credit, accordingly.

State Income Tax Return Preparation

Each state has its own set of rules to determine the status of resident, nonresident or part-year resident. The fact that an American expat lives abroad does not automatically qualify a US taxpayer as a nonresident. We will help determine the residency status, file a state income tax return and provide the state tax planning.

FBAR (Report of Foreign Bank and Financial Accounts) or FinCEN Form 114

US persons are required to file FBAR Form 114 if they own (or have a signature authority) foreign financial accounts if the aggregate value of these accounts exceeds $10,000 at any time during the year. FinCEN form 114 must be filed online by April 15. The failure to file the FBAR form and to report foreign financial accounts can result in civil penalties ($10,000 per account per year at minimum) as well as criminal prosecution in case of willful violation. Our expatriate tax experts will prepare and file the FBAR form. Additionally, we will assist with delinquent FBARs to avoid significant penalties.

FATCA (Foreign Account Tax Compliance Act) or Form 8938

Effective with a tax year 2011, the FATCA form 8938 must be filed to report specified foreign financial assets. Our international tax experts will thoroughly review foreign financial assets to determine FATCA filing requirements. We will complete the form accordingly.

Form 5471 – Information Return of U.S. Persons With Respect To Certain Foreign Corporations

Qualifying US persons are required to file form 5471 if they own more than 10% of foreign corporation. The failure to file form 5471 can result in $10,000 penalty. We will review the status of foreign corporation and file form 5471, accordingly.

Small Business Tax Return Preparation

US taxpayers can structure a business as an LLC, corporation or partnership. We will prepare a small business tax return and provide tax planning services.

Past-due tax returns

We have a particular expertise in case of delinquent expatriate tax returns. Currently the IRS offers several compliance programs for Americans living abroad. The IRS updated the streamlined program in July 2014. Under the program American expats with past-due returns have to file only 3 years of federal tax returns and 6 years of FBAR to become compliant. We will advise the best course of action and prepare all required forms.

Nonresident tax return

Nonresident aliens might be subject to US filing requirements in case of US investments (for example, real estate), investment income or other income from US sources. We will review individual circumstances and prepare all required schedules and forms for a foreign national with US interests.

Expatriate tax return review

US taxpayers that require a professional review of a tax return can take advantage of our expat tax return review services.

Also, our expat experts can assist in the following areas:

  • Tax treatment of non-resident spouse
  • Tax treatment of Passive Foreign Investment Companies (PFICs)
  • Foreign trust, foreign partnership
  • Foreign adoption
  • Social Security tax implications for U.S. expatriates and foreign nationals
  • Totalization agreements
  • Tax implications of students and military personnel
  • Tax treatment of working in international waters
  • IRS letters
  • Tax treatment of Canadian pension of US citizens expat tax return

Services by Country

Argentina

Australia

Austria

Belgium

Brazil

Canada

Cayman Islands

China

France

Germany

Hong Kong

Indonesia

Ireland

Italy

Japan

Kuwait

Luxembourg

Mexico

Netherlands

New Zealand

Oman

Panama

Peru

United Kingdom

Singapore

South Africa

Spain

Sri Lanka

Sweden

Switzerland

Thailand

UAE