Individual Taxes
For Individuals
Our highly qualified team provides tax services and counseling including:
⦁ Resident tax returns
⦁ Non-resident tax returns
⦁ State Tax Return Filing
⦁ City Tax Return Filing
⦁ Consultancy on 401K & Retirement Plan
⦁ E-filing the FBAR (Foreign Bank & Financial Account Report)
⦁ ITIN (Form W-7) Applications
⦁ FATCA Reporting Compliance
⦁ Get the right advice for efficient tax planning
⦁ 4868/2350 Extension Filing
⦁ Amendment Tax Return with IRS compliance
⦁ W-4 Assistance
W-4 Assistance
A W-4 form, usually known as "Employee's Withholding Certificate," is an IRS form employees use to tell employers how much tax to withhold from each paycheck. Based on the information provided on W-4 your employer will calculate certain payroll taxes and remit the taxes to the IRS and the state on behalf of employees.You do not have to fill out the new W-4 form if you already have one on file with your employer. You also don't have to fill out a new W-4 every year unless you want to adjust your withholdings. You can change information on your W-4 as needed. If you start a new job or want to adjust your withholdings at your existing job, though, you'll likely need to fill out the new W-4. We always recommend you take expert advice whenever you are making any changes in W4.
Filing FBAR (Foreign Bank Account reporting)
FBAR is an acronym for the Foreign Bank Account Report. It is a reporting requirement for US citizens and residents alien holding financial accounts outside US. Every year, under the law known as the Bank Secrecy Act,
FBAR filing on the FinCEN Form 114, Report of Foreign Bank and Financial Accounts is required when a US citizens and residents alien has a financial interest in or signature authority over one or more foreign financial accounts such as bank accounts, brokerage accounts and mutual fundswith an aggregate value greater than $10,000. You report the accounts by filing a Report of Foreign Bank and Financial Accounts (FBAR) on FinCEN Form 114.
Who Must File
A United States person, including a citizen, resident, corporation, partnership, limited liability company, trust and estate, must file an FBAR to report: Any American with one or more foreign financial (such as bank, brokerage or pension) accounts that have an total balance of over $10,000 in them at any time during the tax year, or anyone with control over such an account or accounts (for example as a signatory), is required to file an FBAR. FinCEN Form 114 should be filed each year that a person qualifies. Note that the $10,000 minimum is per person, not per account, so someone with ten offshore financial accounts each containing $1,001 dollars at the same time at any time in a year would exceed the threshold and so have to report all of their foreign accounts on an FBAR.
When to File
The FBAR is an annual report, due April 15 following the calendar year reported. You’re allowed an automatic extension to October 15 if you fail to meet the FBAR annual due date of April 15. You don’t need to request an extension to file the FBAR.If you are affected by a natural disaster, the government may further extend your FBAR due date.
Need Help Filing Your FBAR?
Our expert tax team and IRS Enrolled Agents have helped hundreds of expats successfully file their FBAR. Our reliable Foreign Bank Account Reporting service gives you peace of mind that your FBAR filing will be 100% complete and accurate. Let us help you take care of your FBAR filing obligations hassle-free! Get started today.
ITIN Application:
ITIN stands for Individual Taxpayer Identification Number. It refers to the tax processing number which is issued by the United States IRS ( Internal Revenue Service). An Individual is required to possess a SSN (Social Security Number ) or an ITIN (Individual Taxpayer Identification Number). The ITIN is used for the purpose of filing of taxes in the United States by individuals ( i) who do not possess a SSN, OR (II) individuals who are not eligible to possess a SSN, but are required to file for taxes in the USA. Thus, ITIN would be required by US residents and US non-residents, Aliens (foreigners in USA) who need to file for taxes in the USA in accordance with the Internal Revenue Code.
We, Expedo Tax are one of the IRS official Certified Acceptance Agent with almost 100% assured acceptance rate can assist you in this regard.
How to Apply for an ITIN
The very first step is for you to completely fill the Form W - 7, as part of the ITIN application and duely sign it.
The second step would be to get copies of your identification documents certified. In case, If you are in your home country, outside of the US then this can be little challanging because the responsible officer at your school can certify copies of your identification documents.
In such a case, you can utliize the services of your home country passport office. Alternatively you may make a reservation at your nearest United States Embassy/ Consulate or with any Certified Acceptance Agent. We, Expedo Tax are one of the IRS official Certified Acceptance Agent with almost 100% assured acceptance rate can assist you in this regard.
The third step requires you to send your application to the IRS. After your relevant documents certified, you need to send your application to the IRS, accompanied by a signed W-7 form (also known as ‘Application for IRS Individual Tax Identification Number).
Amending the Tax Returns
An amended return is a form filed in order to make corrections to a originally filed tax return from a previous year. An amended return can correct errors and claim a more advantageous tax status, such as a refund. you make a mistake on your tax return or realize you missed out on a valuable tax deduction or credit? You can file an amended tax return to make the correction.
When to File
Generally, to claim a refund, you must file Form 1040-X within 3 years after the date you filed your original return or within 2 years after the date you paid the tax, whichever is later. Returns filed before the due date (without regard to extensions) are considered filed on the due date, and withholding is deemed to be tax paid on the due date. Special rules apply for refund claims relating to net operating losses, foreign tax credits, bad debts, and other issues. For more information, refer to the Instructions for Form 1040-X.
Auditing previous year tax return
Already send the information for rewriting to content use the same here.
Extension of Tax Returns
If you aren't able to complete your federal tax return by the filing deadline, we will take extension on behalf of you so that you may get up to an additional 6 months to file your U.S. individual income tax return. Out of the Country –usually you have to file your tax return by on 15th day of fourth moth of tax year; if 15th day falls on holiday then you need to filed your tax return on the next working day. You're allowed two extra months (generally until June 15) to file your return and pay any tax due without requesting an extension if you’re a U.S. citizen or resident alien, and on the regular due date of your return you is either: *Note extension that we are filing for is only for filing taxes not for paying your taxes, If you have any tax due you may to paid the amount by tax due date otherwise interest will be imposed on the tax due until the tax due amount paid.
E-file Your Extension
If you aren't able to complete your federal tax return by the filing deadline,We will take extension on behalf of you so that You may get up to an additional 6 months to file your U.S. individual income tax return.
Out of the Country –usually you have to file your tax return by on 15th day of fourth moth of tax year, if 15th day falls on holiday then you need to filed your tax return on the next working day. You're allowed two extra months (generally until June 15) to file your return and pay any tax due without requesting an extension if you’re a U.S. citizen or resident alien, and on the regular due date of your return you is either:
*Note extension that we are filing for is only for filing taxes not for paying your taxes, If you have any tax due you may to paid the amount by tax due date other wise interest will be imposed on the tax due until the tax due amount paid.
NEED ANY HELP AT YOUR TAX SOLUTION?
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