All American Citizens, Green Card holders have an obligation of worldwide income declaration to the IRS (Internal Revenue Service) if they exceed the minimum income filing threshold based on the filing status irrespective of any source of income earned in any part of the world. In addition to 1040 tax return filing, With FATCA compliance, all American citizens and U.S. resident taxpayers with foreign financial accounts (if the aggregate balance of all foreign accounts exceeds $10,000] are required to file Fincen114 forms. The penalty for noncompliance of Fincen114 reporting is a minimum of $10,000 or a maximum of 50% of the balance per account per year.
Critical Key Dates for U.S personal Tax Filing for 2020 tax year
17th May 2021[extended due to pandemic]
Federal Tax filing deadline for US citizens residing in the U.S.A
Extension can be filed until 15th Oct 2021 by completing Form 4868
15 June 2021 [For US Citizens Abroad]
Federal Tax filing deadline for US Citizens residing Outside of U.S.A
Further extension until 15th Oct 2021 and additional 2 months extension until 15th Dec 2021 can be requested
15th April/October 2021 [FBAR Filing]
Fincen114/Foreign Bank Account Reporting FBAR filing initial deadline date
Automatic extension or if with 4868 extension additional until 15th October 2021 if residing outside of USA
15th Mar 2021
Foreign Trust Reporting Form 3520A initial filing deadline.
If Form 7004 Extension the additional extension time until 15th Sep 2021 for Form 3520A Reporting is permitted.
17th May 2021
Form 4868 Filing covers Federal 1040 Tax Return/Form 5471 Foreign Corporation Reporting and Form 3520 Filing as well
It's highly recommended to pay the Federal and State Extension payment to avoid further interest for late payment to taxes by this date.
STATE TAX FILING - 15th April/17th May 2021
Some states like California allow Federal extension and no separate state tax filing is required.
States like New York require separate state tax extension filing by this date. So we recommend to taxpayers check each state tax website for more information on these filing.
Recovery Rebate Claim via 2020 1040 Tax Return Filing
If you missed out to receive the Economic Impact payment/Stimulus check of $1200 1st payment and $600 2nd payment. You can claim this via refund claim by filing 2020 1040 tax return.
Never filed US Tax Return in the past
Our team can assist with the Delinquent tax return/streamlined foreign offshore filing by filing your last 3 years tax returns/6 years of Foreign Bank Account Reporting. Non-wilful conduct certification without any late filing penalty.
ITIN/US Tax ID
As IRS Approved Certified Acceptance Agent we can assist to get an ITIN for a foreign Non-US Citizen Spouse.
FAQ for filing 1040 Married filing Jointly ITIN
U.S. Tax 4 Expats/ Tax And Accounting Hub is a U.K.-based specialist boutique firm providing American Expatriate Personal Tax Compliance Service. Our firm aims to assist American Citizens living in the U.K. and overseas looking for a qualified local professional with Big 4 accounting firm experience in US/UK personal tax expertise.
We are IRS approved Enrolled Agents (EA), our service areas of expertise covers (1040/1040NR tax return preparation, Dual-Status U.S. tax return, IRS Representation, IRS Notice reply, Delinquent/Streamlined U.S. tax return filing for accidental American who were not aware of their U.S. tax filing obligations living abroad, FATCA Compliance, Form 5471 Reporting, US/UK Tax Treaty position claims and avoiding the double taxation issues normally faced by expatriates living abroad, Foreign Bank Account Declaration FBAR FINCEN 114 Reporting, PFIC Reporting, U.K. Nom Domiciled Self-Assessment Personal tax return service.
We also work with companies looking for U.S. tax and ITIN service for employees/celebrities/Royalty income recipients (authors/filmmakers), EIN for US/UK registered companies, Law firms requiring U.S. tax ID/ITIN for their foreign partners, U.K. accountants looking for U.S. tax advice.
If you individual, business owner, or professional advisor looking for U.S. tax or ITIN applications or EIN application assistance, please get in touch. Call Kader Ameen on +442082211154 / +447914393183