American citizens and Green Card holders are taxed on their worldwide income. We specialize in assisting our clients with fulfilling their U.S. tax obligations; the best way for our team to fully understand a client’s situation is to meet them in person (or via other communication channels) for an initial, private consultation. Our primary focus for individuals is minimizing our clients’ tax liability or maximizing their refund, depending on the individual situation, as each person’s tax circumstances are unique. ATB provides year-round expert tax solutions for U.S. expatriates and dual-citizenship holders residing overseas.
ATB has all of the necessary IRS forms needed for any type of tax return whether it’s for an individual, a married couple, a dual citizen, a family, a small business, or large corporation. Our Tax Professionals are able to determine the essential forms required per each client’s situation and subsequently prepare the forms for the client’s review and signature before filing the returns with the IRS.
U.S. Citizens may be required to comply with Foreign Bank Account Reporting as well as Foreign Financial Asset Reporting. Very costly penalties and fines can be imposed for failure to file FBARs. ATB ensures that all necessary forms required for the individual will be filed with the correct U.S. entity, whether it’s the U.S. Internal Revenue Service (IRS) or Financial Crimes Enforcement Network (FinCEN). We will thoroughly review financial statements and if required, will take the necessary steps to make sure the client is currently compliant with FBAR requirements.
We serve hundreds of clients in order for them to become fully tax compliant with current tax laws. If a U.S. Citizen has never filed a tax return before, there are certain programs available including the Offshore Voluntary Disclosure Program and the Streamlined Foreign Offshore Program, in order for them to come into compliance with minimal or no penalties.
ATB is fully aware of the procedures required in order for an individual to receive their SSN. We will prepare the necessary paperwork for the client and guide them along the process until they receive their SSN. Our staff identifies the benefits and obligations essential of the individual once receiving their ID number. Being outside the U.S., this process may take up to a year to fully complete.
Estimated tax is the method used to pay tax on income that is not subject to withholding. This includes income from self-employment, interest, dividends, alimony, rent, gains from the sale of assets, prizes, and awards. U.S. Citizens and Green Card Holders who are working for a foreign employer are most likely not withholding money from each payroll to pay U.S. taxes. It is important (to avoid penalties) to pay taxes due throughout the year. Our staff will help you determine the Estimated Tax Payments that you should pay throughout the year, and provide the forms for you to submit with your payments.
For clients who are not eligible to receive a SSN, ATB is able to file the necessary forms in order for them to receive an individual tax ID number along with the information returns needed for their tax obligations.
ATB has been given the privilege of having rights to represent a taxpayer in front of the IRS in any situation including taxpayer investigation, audit, and penalties received from the IRS. Our clients have our support that is needed in order to deal with any IRS contact in the most professional and sensitive manner. Hourly rates may apply.
Due to the complexity of certain tax situations, it is possible for errors to be made on previously submitted tax returns. We will review any prior tax returns for the client to ensure they were filed correctly. In some cases, we find errors and send in amendments of the necessary returns before the IRS takes action and penalizes the taxpayer.
A U.S. Citizen must be at least five years tax compliant up until they receive their Certificate of Loss Nationality (COLN). Once receiving the COLN, there are numerous steps to be taken in order to ensure the individual is in good standing with the IRS and no longer obliged to report information. We will guide the client through the complex process and take the necessary steps to relieve them of all U.S. tax obligations.