by Fresh Start Tax | Jul 16, 2012 | Back Taxes, Expatriate Tax, IRS Penalties, IRS Tax Problem, Tax Lawyer, Tax Returns
We are International Tax Experts for Expatriates Tax Services, Consultations and IRS Tax Relief.
We can take all the worry and fear out of your IRS tax situation. We are former IRS Agents and Managers and have over 60 years of direct IRS work experience. We have a total of 206 years of total tax experience.
Call us for a free tax consult,1-866-700-1040.
We can file all current tax returns, file all back tax years and settle any back taxes you may owe.
Filing Dates for Tax Returns.
March 15th Form 1120 and 1120S.
Due date for US Corporations and Sub-Chapter S corporation unless extended with Form 7004
March 15th Due Date.
Form 3520A for foreign trusts
April 15th Due Date.
For any payment of any taxes due for previous calendar year (though if you are living abroad on 4/15 your tax return gets an automatic extension until 6/15)
April 15th Form 1040 ES.
First payment for current years first installment of quarterly income and self employment taxes to avoid penalties.
June 15th Form 1040 ES.
Second payment on current years second installment of quarterly income and self employment taxes to avoid penalties.
June 15th Due Date
Expatriate tax return (for expatriate living abroad on 4/15) or time to file for an extension on Tax Form 4868.
June 30th Form.
TDF 90-22.1 US Treasury Form Report of Foreign Bank Accounts Due Date.
July 30th Due date.
Self administered Pension Plan and 401K Tax Return From 5500 or 5500EZ
September 15th Form 1040 ES.
Third pay current years third installment of quarterly income and self employment taxes to avoid penalties.
September 15th Extended Due Date.
For U.S. Corporation Returns 1120 and 1120S
October 15th Final Expat Form 1040 Due date .
You may not get another tax extension.
January 15th Form 1040 ES Fourth installment of quarterly income and self employment taxes to avoid penalties.
Please Note the following If any of days list above fall on a weekend or national holiday, the due date is automatically moved to the first week day following the weekend or holiday.
The IRS recently announced that the due date for 2010 individual federal income tax returns will be Monday, April 18, 2011. Each year dates differ, please check with us for yearly changes.
Expatriate Tax Help – All Countries – England, Australia, Japan, UAE – Filing, Back Taxes, Penalties – Expat Experts
by Fresh Start Tax | Jul 16, 2012 | Back Taxes, Expatriate Tax, Tax Help, Tax Lawyer, Tax Problem Help
We are Global Experts in Expatiates Taxes and US Citizens living Overseas.
Call us for a no cost consult. 1-866-700-1040. SKYPE available.
We can resolve all IRS tax problems and can help you with any tax issue that may arise.
Being former IRS agents we know the complete system. Let our experience work for you.
We are comprised of Board Certified Tax Attorneys, CPA’s and Former IRS Agents who have over 206 years of total tax experience and over 60 years of working directly for the IRS.
We can take all the worry and fear out of the process of dealing with the IRS.
Some of the new changes taking place for Expatriates.
The new exclusion amount.
The maximum foreign earned income exclusion is adjusted annually for inflation. For 2011, the maximum exclusion has increased to $92,900.
In the area of Housing Expenses.
The computation of the base housing amount (line 32 of Form 2555) is tied to the maximum foreign earned income exclusion. The amount is 16 percent of the exclusion amount (computed on a daily basis), multiplied by the number of days in your qualifying period that fall within your 2011 tax year. For 2011, this amount is $40.72 per day ($14,864 per year).
The amount of qualified housing expenses eligible for the housing exclusion and housing deduction has changed for some locations.
Filing requirements for Expatriates
The amount of income you can receive before you must file an income tax return has increased. Because they vary every year it is best to check with us.
Finally, Self-employment tax reduced.
For 2011, the rate of self-employment tax has been reduced from 15.3% to 13.3%. Hard to believe as reduction, count your blessings.
The maximum amount of net earnings from self-employment that is subject to the social security part of the self-employment tax remains at $106,800. All net earnings are subject to the Medicare part of the tax.
IRA deduction expanded.
You may be able to take an IRA deduction if you were covered by a retirement plan and your 2011 modified adjusted gross income (AGI) is less than $66,000 ($110,000 if married filing jointly or a qualifying widow(er)). If your spouse was covered by a retirement plan, but you were not, you may be able to take an IRA deduction if your 2011 modified AGI is less than $179,000. If you have question be sure to check with us.
Form 8938. If you had foreign financial assets in 2011, you may have to file new Form 8938 with your return.
If you have a Change of address.
If you change your home mailing address, notify the Internal Revenue Service using Form 8822, Change of Address. If you are changing your business address, use Form 8822-B, Change of Address—Business.
by Fresh Start Tax | Jul 15, 2012 | Back Taxes, Expatriate Tax, IRS Tax Debt, Tax Help, Tax Lawyer
If you feel like the IRS may be coming your way, breathing down your neck or you know that the time is right to get things in order, call us for a no cost professional tax consult. 1-866-700-1040.
We can take all the worry and fear out of this process so you will never have to speak to the IRS, ever. We know how to win because of our 60 years of direct working experience at the IRS in the local, district and regional offices of IRS. We taught Tax Law at the IRS.
We can file all your tax returns or any back tax years and if you owe IRS taxes we can settle your taxes with an offer in compromise upon qualification.
You can speak directly to a Tax Attorneys, Lawyers, CPAs or Former IRS Agents and Managers. We are Expat IRS Tax Help experts.
Since 2011, the IRS has really stepped up their enforcement activities for Expatriates Tax.
The high end targets of IRS for Expat Tax activity will be in the area of non filers and accounts that owe over $1500 per year in tax. The IRS is setting up specialized Revenue Agent Groups or task forces to handle this world wide activity and global tax problem of not filing, not paying.
Taxpayers usually fall in two categories with the IRS. Those who did not know about filing requirements ( innocent ) and those that willfully neglected filing.
We can help both. At some point, the IRS will be tracking down everyone. IRS has just started these processes. Over 33,000 non filers have come forward so far and the IRS knows there is a goldmine of revenue to collected in Expat taxes.
How to save tax dollars. Requirements:
If you meet certain requirements, you may qualify for the foreign earned income and foreign housing exclusions and the foreign housing deduction.
If you are a U.S. citizen or a resident alien of the United States and you live abroad, you are taxed on your worldwide income.
You may however qualify to exclude from income up to an amount of your foreign earnings that is now adjusted for inflation.
Exclusion Dollar Amounts:
$91,400 for 2009,
$91,500 for 2010,
$92,900 for 2011,
$95,100 for 2012.
In addition, you can exclude or deduct certain foreign housing amounts.
Penalty imposed for not filing for expatriation
Anyone who has expatriated or terminated his U.S. residency status must file Form 8854, Initial and Annual Expatriation Information Statement .
Form 8854 must also be filed to comply with the annual information reporting requirements of Internal Revenue Code section 6039G, if the person is subject to tax under Section 877 of the Code.
IRS Penalty:
A $10,000 penalty may be imposed for failure to file Form 8854 when required.
IRS is sending notices to expatriates that have not complied with the Form 8854 requirements, including the imposition of the $10,000 penalty where appropriate.
Expatriate Tax , IRS Tax Help , IRS EXPAT EXPERTS , Former IRS, Attorneys , Filing Returns, Back Taxes, Settle Taxes
by Fresh Start Tax | Jul 14, 2012 | Back Taxes, Expatriate Tax, Representation, Tax Lawyer, Tax Returns
Before hiring anyone make sure you speak to us somewhere in the process. You can speak directly to Former IRS Agents and Managers who know the complete IRS process and who have worked directly for the IRS for over 60 years.
We are tax experts in Expatriate Tax Returns.
We taught Tax Law at the IRS and know all the tax policies and techniques to get you the best possible results. Expatriate are certainly a tax specialty.
We are accessible and affordable. We will make sure you pay the lowest amount allowed by LAW.
We can file all your income tax returns, back taxes and if you owe money to the IRS we can work out a payment plan and file for abatement of penalties should you qualify.
We have prepared thousands of tax returns since 1982 and we are “A” rated with the BBB.
On staff, Tax Attorneys, CPA’s and Former Agents as previously mentioned. Call us for a no cost consult. 1-866-700-1040. Skype available.
Income Tax Preparation.
Exclusion amounts for tax purposes.
1. The maximum foreign earned income exclusion.
Adjusted annually for inflation. For 2011, the maximum exclusion has increased to $92,900.
2.Housing expenses – Base Amounts
The computation of the base housing amount (line 32 of Form 2555) is tied to the maximum foreign earned income exclusion.
The amount is 16 percent of the exclusion amount (computed on a daily basis), multiplied by the number of days in your qualifying period that fall within your 2011 tax year. For 2011, this amount is $40.72 per day ($14,864 per year).
3. Housing expenses – maximum amounts
The amount of qualified housing expenses eligible for the housing exclusion and housing deduction has changed for some locations.
4. Filing requirements.
The amount of income you can receive before you must file an income tax return has increased. Check with us to make sure.
5. Self-employment tax reduced.
For 2011, the rate of self-employment tax has been reduced from 15.3% to 13.3%.
The maximum amount of net earnings from self-employment that is subject to the social security part of the self-employment tax remains at $106,800.
All net earnings are subject to the Medicare part of the tax.
6. IRA deduction expanded.
You may be able to take an IRA deduction if you were covered by a retirement plan and your 2011 modified adjusted gross income (AGI) is less than $66,000 ($110,000 if married filing jointly or a qualifying widow(er)).
If your spouse was covered by a retirement plan, but you were not, you may be able to take an IRA deduction if your 2011 modified AGI is less than $179,000.
Form 8938. If you had foreign financial assets in 2011, you may have to file new Form 8938 with your return.
7. Change of address. If you change your home mailing address, notify the Internal Revenue Service using Form 8822, Change of Address. If you are changing your business address, use Form 8822-B, Change of Address—Business.
If you are a Expatriate, Expat, and need to file tax returns or many years back taxes call us for a no cost consult. 1-866-700-1040.
Expatriate Tax Returns, Filing Back Taxes – Former IRS, Attorneys, IRS Expat Experts – Free Tax Consultation – Income Tax Prep
by Fresh Start Tax | Jul 13, 2012 | Expatriate Tax, FBAR, IRS Tax Experts, Offshore Program, Tax Help, Tax Lawyer
Is the IRS on your mind? Let us permanently resolve your tax issue.
We taught Tax Law at the IRS and know there tax settlement policies.
Let us take away the fear and worry. You will never have to talk to the IRS.
We are tax experts for US Citizens, UAE, Dubai Tax Issues.
Call us or skype us for a no cost consult.
1-866-700-1040 SKYPE PASSWORD – freshstarttax
We know exactly what the IRS will do because we are Former IRS Agents. As a result, we know all their tax policies, codes and closing procedures used to settle every type of case.
We are comprised of Tax Attorneys, CPA’s and Former IRS agents and managers.
We taught Tax Law at the Internal Revenue Service. We have over 60 years with the IRS and over 206 years of total tax experience.
How to save tax and keep your money.
Did you know that foreign earned income exclusion, the foreign housing exclusion, and the foreign housing deduction are based on foreign earned income?
For this very purpose, foreign earned income is income you receive for services you perform in a foreign country during a period your tax home is in a foreign country and during which you meet either the bona fide residence test or the physical presence test.
Earned income is pay for personal services performed, such as wages, salaries,or professional fees.
The list that follows classifies many types of income into three categories. The column headed Variable Income lists income that may fall into either the earned income category, the unearned income category, or partly into both.
For more information on earned and unearned income, see Earned and Unearned Income, below.
Classification of Types of Income
| Earned Income |
Unearned Income |
Variable Income |
| Salaries and wages |
Dividends |
Business profits |
| Commissions |
Interest |
Royalties |
| Bonuses |
Capital Gains |
Rents |
| Professional fees |
Gambling winnings |
|
| Tips |
Alimony |
|
|
Social security benefits |
|
|
Pensions |
|
|
Annuities |
|
Call today for a no cost consult. 1-866-700-1040.
US Citizens Taxes, UAE, Dubai, IRS Tax Experts, Help, Problem, Tax Filings, Former IRS, Attorneys, Expatriate, FBAR
by Fresh Start Tax | Jul 13, 2012 | Back Taxes, Expatriate Tax, IRS Tax Problem, Offer in Compromise, Offshore Tax Problems
We are Tax Experts for UAE, Dubai Expat Tax Issues and Tax Problems.
We have a combined 206 years of total tax experience and over 60 years of working directly for the IRS. As former IRS Agents we worked as teaching instructors, Revenue Agents, IRS Managers, IRS Auditors, Revenue Officers and Appeals Agents. We also taught tax law at the IRS.
We have on staff Tax Attorneys, Tax Lawyers, and CPA’s.
We can answer all your questions regarding tax returns, tax credits, tax exclusions, and back tax filings. We also address the issue of abatement of penalties and interest due to reasonable cause and settlements negotiations called offers in compromise.
Have no fear of the IRS. We worked for them and we know how to fight back.
What to expect form the IRS.
The Internal Revenue Service has found a gold mine working FBAR and Expatriate Cases. During the past 3 filing season the IRS collected over $4.4 billion large. With the passing of new legislation and funding the IRS will be receiving over $500 Million in new budget revenue. IRS is targeting four new high target areas:
1. FBAR and Expatriates,
2. Modernizing their computer system to catch tax cheats,
3. Criminal Activities,
4. Enforcement for non filers
When to File your tax returns.
If you are a U.S. citizen or resident alien residing overseas, or are in the military on duty outside the U.S., on the regular due date of your return, you are allowed an automatic 2-month extension to file your return and pay any amount due without requesting an extension.
For each calendar year return, you will be given the automatic 2-month extension is to June 15.
If you are unable to file your return by the automatic 2-month extension date, you can request an additional extension to October 15 by filing Form 4868 before the automatic 2-month extension date.
However, any tax due payments made after June 15 will be subject to both interest charges and failure to pay penalties.
If you are having an tax problems, owe back taxes,or have questions with FBAR or Overseas Tax Issues, call us today, 1-866-700-1040, SKYPE available.
UAE, Dubai Expats, TAXES,Back Tax Return Filings, Tax Advise, Expert Tax Help, Attorneys, Former IRS, Affordable
