Have your US expat taxes completed by Bright!Tax expat tax experts – all of whom are American CPAs, and many of whom are MBAs in accounting, finance or tax law. Before you choose to begin your project with us you will be provided with a full and final fee assessment from your Bright!Tax CPA.
Flat fee includes these forms: 1040, 2555, 1116, Sch.C, one K-1, one rental property, up to 20 bank interest/dividend entries and brokerage transactions. If you have more than these, don’t worry. We can easily accommodate your particular circumstance.
Adding additional years’ returns and becoming fully compliant with US tax laws is one of our areas of expertise. We’ve streamlined the process and help get you all the way where you need to be – worry free.
Some US states require US expatriates to file taxes on their income as well. It varies by state and the rules are different for each one. Your Bright!Tax CPA can give you authoritative information regarding your particular circumstance.
The Streamlined Procedure is an IRS amnesty program that allows expats to catch up with their US tax filing and become fully compliant without facing any penalties. It requires that expats file 3 years of back taxes and up to 6 years of FBARs (Foreign Bank Account Reports, required if you have a total of $10,000 or more in foreign accounts at any time during the year). Our headline Streamlined Procedure package of $957 includes 3 tax returns. If you have to file FBARs for any of the last 6 years too (required in years when you had over $10,000 in foreign accounts), add $79/ year. So a maximum 3 tax returns and 6 FBARs costs $1,431.
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 reporting year.
FATCA, or the Foreign Account Tax Compliance Act (Form 8938), is required for individuals with total assets, in aggregate, beginning at over $50 thousand. 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 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 can advise you about your particular foreign corporate return fees before you begin your engagement with Bright!Tax.
‘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. Please note they may also have to file additional reporting forms, such as FBARs (required in years when they had over $10,000 in foreign accounts); FBAR filing within the program will be billed at $79/ year.
All of our tax prep clients have the opportunity to consult with their Bright!Tax expat specialist CPA as part of their tax prep process. However, should you wish to speak with one of our CPAs to address other questions or concerns, we offer a professional consultation by phone or video chat at a rate of $180 per 30 minutes.
Click on the button below to complete our 30 second registration. After that you’ll immediately be connected with your Bright!Tax CPA who will complete your US returns efficiently, accurately and worry free.