US Tax

We offer a wide range of U.S. tax and accounting services to help keep our clients stay (or become) tax compliant with the Internal Revenue Services (IRS). We also provide tax advisory and tax planning services to further assist our clients based on their specific facts and circumstances. We assist in the preparation of the following most common income tax and international return filings for Americans living abroad and also prepare U.S. income tax filings for non-U.S. persons.

• Form 1040 – Annual U.S. Individual Income Tax ReturnU.S. citizens, Green Card holders and Resident Aliens are required to file U.S. tax returns on their world-wide income annually if they meet the gross income filing threshold applicable to their filing status for the year.
• US State Income Tax Return; Apart from the Federal income tax filing, one may also be required to file a state income tax return. This depends on certain factors i.e. situs of property or investment, state where one performs his services, state’s filing thresholds and other considerations.
• FBAR Form FinCEN 114 – Foreign Bank Account ReportingU.S. persons, both entity and individual, with financial interest in or signature authority over foreign bank or financial accounts having an aggregate value of more than $10,000 at any time during the year, are required to file this form.
• Form 8854 – Initial and Annual Expatriation StatementFor U.S. citizens who have relinquished their citizenship, and long-term U.S. residents who have ended their residency (expatriated) are required to file this form.
• Form 8938 – Statement of Specified Foreign AssetsUse Form 8938 to report your specified foreign financial assets if the total value of all the specified foreign financial assets in which you have an interest is more than the appropriate reporting threshold.
• Form 709 – United States Gift (and Generation-Skipping Transfer) Tax ReturnAs a U.S. citizen, green card holder or resident alien of the U.S., you are required to file the Form 709, U.S. Gift Tax Return if: you gave a gift to someone (other than your spouse) during the year and the amount of gift was over the $14,000 annual exclusion ($15,000 in 2018); if you gave gifts to a non-U.S. spouse over the annual exclusion of $149,000. Transfers or gifts to a U.S. spouse is unlimited and therefore not subject to gift tax return  filing.
• Form 3520 – Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts.
• Form 3520-A – Annual Information Return of Foreign Trust With a U.S. Owner
• Form 5471 – Information Return of U.S. Persons With Respect To Certain ForeignCorporations.
• Form 8858 – Information Return of U.S. Persons With Respect To Foreign Disregarded Entities.
• Form 8865 – Information Return of U.S. Persons With Respect To Certain Foreign Partnerships.
• Form 706 – United States Estate (and Generation-Skipping Transfer) Tax Return.

Please don’t hesitate to contact International HR Services Ltd., Teresa Sy-Him at t.sy-him@internationalhrs.com, if you have further questions to this subject.