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Help! I have Ex-Pat & International Tax Questions!

Workbook

 

You can run, but you can’t hide! ALL US citizens and Green Card holders are required to file every year and disclose financial assets.

 


WORKBOOK: Get Yours

 

For us to do your taxes, the workbook needs to be filled out and submitted to us. It is a free download, no sign up/password required. TO USE IT AS A PDF FILL, YOU MUST DOWNLOAD AND SAVE IT TO YOUR COMPUTER FIRST, THEN REOPEN THE SAVED FILE. If you are using a Mac computer, make sure you are not filling it out in Apple Preview mode or it will print out blank! You will then be able to type and save it as often as you need to using Adobe Reader. (download here) Or you can just print it out and hand write the answers.

If a section does not apply to you, put N/A and skip that section. We need to make sure we are covering all aspects of your US filing requirements.

Should you have your business records in another format (excel or Quickbooks), you can just  upload those to us via our secure portal and note that in the workbook.

 

 

FBAR – Federal Bank Reporting Get Yours

 

All non-residents present more than 183 days in the US, US citizens, and Green card holders with more than 10K in the aggregate outside of the US (including retirement accounts) must complete this form. This even includes accounts that you may only have signatory authority.

 

International Tax Issues Q&A:

 

International tax issues are complicated and the literature available for taxpayers is often conflicting. We stay apprised of tax treaties, the special issues, and requirements for US citizens living abroad, and non-residents with US-based income. Read and learn,  or email us with at info@traveltax.com.

Yes, but only if they consider the income in both countries. You cannot file returns in a vacuum reporting only US income to the US and vice versa. See add on in Canadian section.
It’s still wrong and they are getting poor advice. You could potentially pay twice the taxes on the same income! How? If one filing was audited (or not filed) and the other was closed due to a lapse of time. It will be too late to make any changes to the other return. – – (An un-filed return has no closing date. If the country where you did not file, or filed incorrectly, assessed tax on one of those years, you will not be able to amend the return you filed with the other country.)
Yes, if you are claiming a tax home in another country, that country has the right to tax worldwide income. You may be entitled to tax credits and exclusions based on your situation. Usually, you will not get double taxed. The tax treaties are in place to account for this.

IRS rules limit temporary assignments to less than 12 months in a metropolitan area, consecutively or non-consecutively. Though you may have treaty protection, your temporary status for deductible living expenses may cease. To keep them tax-free you will need to go to another part of the country. The only exception to this rule is a situation where the hospital itself provides housing on their campus – not an offsite apartment.

Children belonging to Mexican and Canadian taxpayers can be claimed. They will require an ITIN unless they have a SSN. We can help you obtain an ITIN for your dependents.

An ITIN is not a Social Security Number, it is a tax ID and it is only issued when a tax return requires an ID. ITIN’s can only be obtained by filing a W7 (Application for Taxpayer Identification Number) with a tax return. The return and ITIN application must be mailed with specific documentation of foreign status and identity. The request for an ITIN is processed by a specific IRS campus.

You will either: 1) have to mail ORIGINAL documentation OR 2) take your identifying documents to an IRS office that handles document certification. There is no flexibility in this requirement. It is best to get a copy of the spouse/dependent’s passport certified by a CONSULATE or EMBASSY of the country that issued the passport to avoid nasty waits and hassle.

Yes, though the treaty will decide functional residency for tax purposes.
This may sound odd, but the greater the refund, the less tax liability. When filing in your home country, your foreign tax credits are based on your tax liability, not your withholding. It is like a see-saw. Pay less here, pay more there, the total is the same – you will always pay the higher tax of the two nations. Good international tax planning focuses on minimizing your total tax liability, not just the liability in one nation. Sometimes it is a matter of taking exchange rates into account.
In 2004 and 2014, the USD/CDN exchange rate moved dramatically. This presented an opportunity. Since tax returns are based on events of the past, one currency may be more desired over another.
Days spent in the US is not important so long as the ties to the other country are sufficient to remain a resident of that nation. Tax treaties trump domestic law, so the rules governing tax residence may be based on your treaty claim.

1) Puerto Rico is considered a foreign country for tax purposes and vice versa. Residency is important!

2) Puerto Rico has its own tax system. Merely filing in the US is not sufficient.

3) A Puerto Rican resident with US income will prorate their standard deduction based on total income in both countries

These countries do not follow a calendar year tax regime. The income and taxes must be prorated based on when earned. In countries following different calendars, it is usually best to wait until the end of both calendar years have ended before filing.

Contact Us

We prefer emails for quick questions. Please email us and if we’re able to answer your questions we will! If not, we’ll let you know if you need to schedule a tax home or a preparer consult.We are unable to answer questions related to the use of tax software programs.

If you haven’t heard from us within 72 hours, please email us at info@traveltax.com, or call us at 402-379-7818.

Tax Home Questions

If you are calling to talk about establishing or maintaining a tax home, you may schedule a tax home consult here. Remember that tax home issues can create a major tax liability if not handled correctly.


Hours of Operation

Monday to Friday – 8:30 a.m. to 4:30 p.m. Eastern Time
(Please note: On Fridays our phones may switch over to voicemail at noon, in order for us to prepare for the upcoming week.

Please note: Your inquiry is private. We do NOT share your information, directly solicit, and we only message through social media if initiated by you.

Phone: 402.379.7818         Canada: 902.482.8128



Send Us Documents

The most secure way to send us your documents is to utilize this link that will allow you to select your saved files and upload them via our encrypted site.

Documents are processed within 24 hours EXCEPT ANY DOCUMENTS SENT AFTER 2:00 PM EST ON FRIDAYS OR ON THE WEEKEND. Weekend docs will be processed Monday or Tuesday at the latest.


Email: documents@traveltax.com
Mail: 46 St. Mark Rd., Taylors, SC 29687
Fax: 877.872.8829


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You will be directed to a separate PayPal portal page to complete the transaction. A PayPal account is not required.


Need to Make a Payment to the IRS?

Taxpayers can make electronic debit or credit card payments through our official IRS payment website, Drake e-Payment center, at 1040paytax.com. Convenience fees for credit cards (1.96%) or debit cards ($2.55) will be applied at the time of payment. Use this link to make your payment.


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