Personal & Personalized Expat Tax Service

State Tax Returns

Some US states require US expats to file state taxes on their income as well. The rules are different in each state. Your Bright!Tax CPA will give you definitive information regarding your particular circumstance.

FBAR Reporting

FBAR, or the Foreign Bank Account Report (FinCEN Form 114), is required for individuals who have foreign accounts with balances that in total exceeded $10 thousand at any time during the tax year. Includes up to 10 accounts per year.

FATCA Reporting

FATCA, or the Foreign Account Tax Compliance Act (Form 8938), is required for individuals with foreign financial assets which, in aggregate, IRS thresholds. The rules vary depending on your location and/or marital status. FATCA filing is a relatively new law that the US government is enforcing vigorously. Includes up to 10 accounts per reporting year.

Foreign Corporation

Foreign corporate returns (Form 5471) are required for all US persons who own 10% or more of a corporation overseas. Our flat fee assumes your corporate accounting records are in reasonably good order. Your Bright!Tax CPA will advise you about your particular foreign corporate return fees at the outset.

Relief Procedures for Certain Former Citizens (Renouncing US Citizenship)

‘Accidental’ Americans who don’t have a US social security number and who aren’t US tax compliant can face negative treatment from foreign banks. This IRS program allows them to renounce their US citizenship without facing back taxes or penalties by filing their last 5 US tax returns.