There are many aspects of tax return preparation that need to be considered. By having a professional tax preparer on your team, the following issues can be handled providing the most efficient results. Complexity U.S. tax returns for individuals living abroad are more complicated than in the US. Each taxpayer has their own different [...]
What is an ITIN? ITIN (Individual Taxpayer Identification Number) is a tax processing number issued by the Internal Revenue Service. It is specifically for nonresident aliens who fulfil filing requirements but are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA). An ITIN does not offer work authorization or [...]
FATCA (Foreign Account Tax Compliance Act) is a US law introduced in March 2010. FATCA focuses on additional information reporting by US taxpayers about certain financial accounts and offshore assets. In addition, financial regulators, governments and banks are also affected. In foreign countries around the world, foreign institutions such as banks are required to report [...]
Most US taxpayers (citizens and resident aliens or greencard holders) living and working in Hong Kong or overseas are required to file US taxes if they meet certain minimum income levels. For tax year 2017, if you file as single, then you must file a tax return if your gross income is $10,400 USD or [...]
Update: For tax year 2013, Form TDF 90-22.1 has been replaced with by the new Form FinCEN 114 and is required to be filed electronically. The US government has required US citizens and green card holders to file Form TDF 90-22.1 Report of Foreign Bank and Financial Accounts (FBAR) to disclose account balances of [...]