AmeriTax Solutions offers a wide range of services to its individual clients. AmeriTax Solutions is a sole proprietorship therefore clients benefit by receiving personalized, quality service that is beyond compare. Below is a list of the services that I can provide along with a brief description. Please inquire about any service you may need which is not listed. If it is a service that I don’t currently provide, I would be extremely happy to refer you to a suitably qualified professional.
- Tax Preparation for U.S. Citizens and Green Card Holders
- Tax Preparation for Nonresident Aliens
- Estimated Tax Calculations
- Tax Equalization Advice and Planning
- Prior Year Returns
In the situation where a return is being prepared for an individual who moved overseas during the year, this service would also include the preparation of Form 2350 (Application for Extension of Time to File Income Tax Return). This is a special extension which can extend the filing date of the return up until January 30th of the subsequent year for individuals who are waiting to meet either the Physical Presence Test or the Bona Fide Residence Test to qualify for the Foreign Earned Income Exclusion and/or the Qualified Housing Exclusion or Deduction.
Tax Preparation for Nonresident Aliens
Includes the preparation of the U.S. Nonresident Alien Income Tax Return (Form 1040NR).
Form 1040NR is used by foreign nationals working temporarily in the United States who do not meet the U.S. tax law residency tests.
This form is also used by individuals who are neither U.S. Citizens nor Resident Aliens but who have income that is effectively connected with a trade or business in the United States (i.e., a rental property).
Estimated Tax Calculations
Includes the preparation of Estimated Tax Payment Vouchers (Form 1040-ES).
When an individual moves abroad to work, he or she will often concurrently shift from being paid through a U.S. company to being paid by an affiliated company in the host country.
When this occurs, the individual will no longer have federal or state income tax withheld from his/her wages and generally, as a result, no taxes will be paid into any governmental taxing authority on behalf of the individual during the tax year.
If the individual owes no tax after taking into consideration the Foreign Earned Income Exclusion, the Foreign Housing Exclusion and the Foreign Tax Credit then there is no issue, and the individual needn’t concern himself/herself with making estimated tax payments.
However, in the case where the exclusions/credits do not eliminate all of the individual’s income (or if he/she has substantial income other income in addition to his/her salary such as interest, dividends or capital gains) then making estimated payments will be necessary if the individual wants to avoid incurring an underpayment penalty when the return is filed.
Tax Equalization Advice and Planning
Includes the preparation of a tax equalization/protection plan or the analysis of a plan which is already in place.
Expatriates are subject to a total income tax burden that generally is either higher or lower than what they would have been subject to had they not left the United States. Although base salary and bonus may remain the same, the total income tax liability generally is different. For example, income taxes increase dramatically when the expatriate is stationed in a country that has a higher income tax rate than the United States and receives assignment-related allowances. As a result, many companies have adopted tax-reimbursement policies under which the expatriate is reimbursed for increased income tax costs arising from the foreign assignment.
Prior Year Returns
Includes the preparation of past due tax returns.
Oftentimes people are unaware that when they move overseas they still have a requirement to file a U.S. tax return if their income is over the filing threshold for their filing status in any given year. If you believe this to be your situation, do not despair as I can help you to file any and all delinquent returns.
IRS and State Taxing Authority Representation
Includes correspondence with a federal or state taxing authority on behalf of an individual – such as in the case where a tax notice has been received. During my years of experience dealing with many taxing authorities, I have achieved a level of competence that can ensure my clients they are being properly represented before the various federal and state tax agencies.