US taxreturn
Do you need help with your US tax return?
The U.S. income tax system imposes a tax based on income on individuals, corporations, estates, and trusts. The tax is taxable income, as defined, times a specified tax rate. This tax may be reduced by credits, some of which may be refunded if they exceed the tax calculated. Income and deductions are recognized under tax rules, and there are variations within the rules among the states.
Taxpayers are required to file tax returns and self assess tax. Tax may be withheld from payments of income (e.g., withholding of tax from wages). To the extent taxes are not covered by withholdings, taxpayers must make estimated tax payments, generally quarterly. Tax returns are subject to review and adjustment by taxing authorities.
Taxable income is gross income less exemptions, deductions, and personal exemptions. Gross income includes "all income from whatever source". Certain income, however, is subject to tax exemption at the federal and/or state levels. This income is reduced by tax deductions including most business and some nonbusiness expenses. Individuals are also allowed a deduction for personal exemptions.
The U.S. federal and most state income tax systems tax the worldwide income of residents. A federal foreign tax credit is granted for foreign income taxes. Individuals may also claim the foreign earned income exclusion. Individuals may be a citizen or resident of the United States but not a resident of a state. Many states grant a similar credit for taxes paid to other states. These credits are generally limited to the amount of tax on income from foreign (or other state) sources.
Every year a tax return needs to be filed, also if you are not living in the U.S. anymore. Expatax can assist you with preparing and filing the state and federal tax return. We work with a fully qualified and very experienced CPA in the Netherlands. This means that your tax returns can be prepared here while you are in the Netherlands, no need to send anything abroad.
Tax Return Preparation Procedure
Please note that we strive for a paperless tax preparation process. It is the most effective, time efficient and environmentally friendly way to work. Of course if you would like to receive paper copies of any documents prepared by us, simply ask!
- Complete the client questionnaire: click here for a downloadable copy. Gather your tax documents. Print and sign the engagement letter (located on the second page of the organizer).
- Call our office for an appointment to meet with our CPA or send the completed questionnaire together with copies of the required documents and the signed engagement letter to our office in Utrecht either by regular mail, email to noa@expatax.nl or by fax. Our contact details are mentioned under the Contact Us section of the website.
- Once we have received your paperwork and the signed engagement letter, we will begin preparation of your tax return. You can expect to be contacted as soon as possible if we require additional information or documentation.
- When the tax return is completed, a secured DRAFT .pdf copy will be e-mailed to the email address you provided. Attached to this email will be Form 8879 (which authorizes us to electronically submit your tax return) and the invoice. If there are no comments, questions or changes to be made to the tax return you will sign Form 8879 and return to us by email, fax or regular mail. Your tax return will be prepared for electronic submission.
- Once payment is received for the invoice, your tax return will be submitted and you will receive confirmation of IRS acceptance within 1 to 2 business days. At this point you will also receive your finalized .pdf copy of the tax return and a paper copy will be mailed to you if you requested one.
Please contact us if you would like us to assist you with your tax return.
Questions answered in our Knowledge Base:
- Do I have to file a tax return this year even though I don't live in the US anymore?
- What are the penalties if I file my US tax return too late or pay my US tax too late?
- I have not filed my US tax return. What happens if I don’t file it?
- Why should I file my US tax return as soon as possible?
- When is the due date of my US tax return?
- Can Expatax e-file my tax return or do I have to mail it to the States?
