American citizenship-based taxation is complicated but manageable. We can help you understand your situation, find the best path forward, file the paperwork, and make it all work out in your favor.
IN A WORD
American citizens earning income abroad must file a US tax return annually. Additional FATCA requirements must also be met if the sum of their foreign account balances exceeds $10,000. The penalties for willfully failing to report foreign accounts and foreign entities start at $10,000.
Fortunately, the American tax code provides those living abroad with many options to reduce liability and forgive penalties. Most American residents of Western European countries will pay no US tax; many will receive a tax refund despite never paying into the system. The important thing is to file, and if you've already received a W-9 from your bank, the time to file is now.
Things get complicated when Americans invest in foreign funds, such as life insurance and retirement accounts; or create a European business entity, such as an SCI, SAS, or SARL. Americans living abroad have very different financial reporting requirements from US-based taxpayers.
US-based accountants are unaccustomed to dealing with foreign returns. It is important to choose an accountant who understands foreign reporting requirements and is familiar with the options available to residents abroad to reduce liability.
HOW WE CAN HELP
Our base rates are extremely competitive. We employ additional forms and methods beyond those required, only when their use results in a net financial benefit to our clients.
In most cases, we are able to provide a free tax and penalty estimate to first time callers who can approximate their annual income by source.
Our clients enjoy professional support throughout the year without any additional fees. We are able to do this because our returns have a very low rate of audit and error.
We maintain a solid 100% success rate with the Streamlined Foreign Offshore procedure. Those who qualify can expect to regularize their US Tax situation quickly-- without paying any taxes, penalties or interest.
All work is performed in-house, within a 5-10 day turnaround. Nothing is sent offshore.
We can also check previously filed returns for errors and amend when beneficial to do so.
- Any business or individual who is subject to the US tax system, no matter where they reside
- Foreign companies and investors doing business in the US
- International Human Resource Managers
- Accidental Americans
SERVICES WE PROVIDE
- US tax reporting of foreign income, foreign assets, foreign businesses, foreign pensions & tax-favored accounts, foreign inheritance and gifts, cryptocurrencies and vesting options
- Foreign real estate corporations, foreign passthrough entities (SCI, FPE)
- American control of foreign corporations and partnerships (CFC)
- American investors in passive foreign investment companies and mutual funds (PFIC)
- FATCA/FinCEN reporting for individuals (W-9, W-8BEN, FBAR)
- FATCA classification for foreign investors in the US (FFI, NFFE, W-8BEN-E)
- Streamlined foreign offshore procedures
- Dual-status returns
- Accidental Americans
- Reconciliation of IFRS to US GAAP
- Nonresident control of US corporations
- Nonresident alien spouse complications (NRA)
- Individual taxpayer identification number (ITIN) issuance
- US Citizenship relinquishment or renunciation
- Formation of US corporations, partnerships and pass-throughs
16 Place de la Bourse
75002 - Paris, France
+33 1 86 26 25 95