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Expat, FBAR, and FATCA Filing Services
At My CPA we are committed to helping people understand their obligations to the IRS. Our services and expertise are available to individuals and corporations, regardless of whether you are located here in the US or abroad. We will work with you to provide tax compliance for all the international tax forms described below.
Form 1040
Used by U.S. taxpayers to file an annual income tax return.
Form 2555
Foreign Earned Income Exclusion. To qualify you must prove that you work and reside outside of the US by meeting the bona fide resident and physical presence test. If you are eligible you are able to exclude at certain amount (exact number changes each year) of your foreign earned income from US taxation.
Form 1116
Foreign Tax Credit or Deduction. You can file this form to claim a credit or deduction if you have paid or accrued taxes to a foreign country. You cannot claim a credit for income which has been excluded from taxation by Form 2555. By claiming a credit for taxes paid to foreign countries you are able to reduce your tax liability to the US on a dollar for dollar basis.
Form 8938
Statement of Foreign Financial Assets (FATCA). Anyone who possesses foreign accounts or assets with an aggregate value of over $50,000 are required to file a FATCA. This applies to investments in foreign hedge funds and private equity funds as well as bank accounts and stocks or bonds.
Form TD F 90-22.1
Report of Foreign Bank and Financial Accounts (FBAR). All US Persons with financial interest in, or signature authority over foreign financial accounts if the balance of all those accounts exceeds $10,000 at any point during the calendar year.
Form 5471
Information Return of US Persons with Respect to Certain Foreign Corporations. US Persons who own more than 10% of the shares of a foreign corporation must file this form with their income tax.
Form 926
Return by a US Transferrer of Property to a Foreign Corporation
Form 1042
Annual Withholding Tax Return for US Source Income of Foreign Persons
Form 1042-S
Foreign Persons US Source Income Subject to Withholding
Form 8828
US Withholding Tax Return for Dispositions by Foreign Persons of U.S. Real Property Interests
Form 3520
Annual Return to Report Transactions with Foreign Trusts and Receipt of Foreign Gifts
Form 3520-A
Annual Information Return of Foreign Trust with a US Owner
Form 8833
Treaty-Based Return Position Disclosure
Form 1118
Foreign Tax Credit (Corporations)
Form 8858
Information Return of US Persons with Respect to Foreign Disregarded Entities
Form 8865
Return of US Persons with Respect to Certain Foreign Partnerships
Form 8621
Passive Foreign Investment Company