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
