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United States

Tax Associates International utilises sophisticated specialist software to prepare US federal and state returns.  The software allows us to calculate tax due under a range of filing scenarios to enable us to find the optimum legal filing profile for each client.  As an international tax agency, we can also correlate other tax returns, which the US expat might need to file to ensure that the lowest accurate amount of tax is due in each country in which the client has exposure.  We work with specialist tax attorneys should your past tax affairs fall short of full compliance.  Our aim is to help our clients legally pay the minimum amount of tax that is due.

US Tax for Individuals

Both American citizens and American Greencard holders are required to file worldwide income and gains annually. Non-residents or residents via visas are required to file US-sourced income and gains annaully. In additional to federal tax returns, we are able to assist you with filing state and income tax returns for a variety of foreign countries, including Singapore.

Important Dates

1 January
Start of US Tax Year
15 April
Filing deadline for US residents
15 June
Filing Deadline for US taxes from abroad
15 October
Extended filing deadline for US taxes from abroad
**Note that this extension must be applied for and any tax due will accrue interest for late filing from the June deadline. There are, however, no penalties if extension is granted.
31 December
End of US tax year

Tax Filing Timeline

The deadline for filing US taxes from abroad is 15 June. We require complete documentation one month before the filing deadline. It may be possible to file successfully with complete documentation provided nearer the deadline, but this cannot be guaranteed. We, however, encourage you to contact us well before the deadline, so that we have ample time to complete your work to avoid late filing charges. For corrective work, we ask that you contact us as soon as possible in order to minimise interest and penalties.

US Tax Filing Obligations

On pages 7-9 of the 1040 Tax Filing Instructions booklet are three useful charts with information on who should file income taxes in the United States. A PDF copy of this instruction booklet can be found on the US IRS website at – www.irs.gov/pub/irs-pdf/i1040.pdf.

US Tax for Corporations

For small privately owned companies, from a filing point of view, it is often simpler to “tick the box” and declare corporate earnings on the individual’s shareholders annual return.
For larger corporations, this is rarely possible or beneficial, and in some cases, even small corporations should file separate corporate returns. Unfortunately, within American tax jurisdiction, the corporate return for a small company requires the same return as would be required for General Motors. The cost of filing such returns might be disproportionate to the trading profits of the company, hence the option where possible to “tick the box”.
Because of their potential complexity, we would ask to work with a corporate client, well in advance of the corporate filing deadline, especially when we first file for that client.
Our target market is medium-sized companies or those smaller companies with more complex affairs. Please contact us for a specialised discussion.

External Reference

United States Department of the Treasury – Internal Revenue Service (IRS)
Worldwide Tax – United States

Related News

03/09/2013 – Worldwide Effect of FATCA
01/09/2013 – United States of America Federal Estate Duty
08/01/2013 - American Taxpayer Relief Act
Last reviewed: 14 Apr 2011