Tax Planning

Year-round, proactive tax planning can help individuals and small businesses effectively manage their tax burdens.

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Income Tax Filing

Individuals required to file their tax return in the US based on the residential status and income received. You may have to file.

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FBAR/FATCA Reporting

US taxpayers required to disclose their foreign financial accounts with IRS and Treasury as part of compliance.

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Streamline Filing Procedure

Taxpayers who were not compliant on foreign income reporting and filing required international disclosure

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Gift Tax Filing

The gift tax return is the IRS’ way of keeping track of who gifted what to whom — and how much it was worth — in the previous calendar year.

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ITIN Certified Acceptance Agent (CAA)

US taxpayers required to disclose their foreign financial accounts with IRS and Treasury as part of compliance

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IRS and states audit representation

Taxpayers may receive audit notice from the IRS for various reasons such as under reporting income, claiming deductions.

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Tax Planning

 

Year-round, proactive tax planning can help individuals and small businesses effectively manage their tax burdens and take full advantage of available tax deductions and credits. There are various simple and complex strategies one can adopt to minimize the tax liability within the available tax codes.

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Income Tax Filing

 

Individuals required to file their tax return in the US based on the residential status and income received. You may have to file resident tax return, non-resident return, dual status (part year resident) or expat tax returns based on your individual status. We analyze our client situations and advise them accordingly.

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FBAR/FATCA Reporting

 

US taxpayers required to disclose their foreign financial accounts with IRS and Treasury as part of compliance requirements. The violation may cause severe implications i.e., civil/criminal penalties. FATCA reporting requirements supplement the existing Foreign Bank Account Report (FBAR) that was long established under the provisions of the Bank Secrecy Act of 1970.

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Streamline Filing Procedure

 

Taxpayers who were not compliant on foreign income reporting and filing required international disclosure forms such as FBAR/FATCA/PFIC/Form 5471/Form 8865 etc., are eligible to participate in Streamlined Filing Procedures, provided their violation was non-willful. This will assist to go back and correct the past non-compliances, maintain the accurate tax record, and have peace of mind.

 

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Gift Tax Filing

 

The gift tax return is the IRS’ way of keeping track of who gifted what to whom — and how much it was worth — in the previous calendar year.

If you gave cash, property, or other valuable gifts to anyone during tax year, you may have an obligation to file a gift tax return. The gift given other than cash, must be valued at the fair market value for reporting. Third party appraisal report may be required to attach with Gift Tax return. The filing due date is same as your individual tax i.e., 15th April.

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ITIN Certified Acceptance Agent (CAA)

 

Generally, ITINs (Individual Taxpayer Identification Number) are required for the secondary taxpayer and dependents, who may not be eligible for a Social Security number. For applying an ITIN either taxpayers are required to mail application forms with original document such as passport to the IRS or they can certify the original documents through CAA and apply for an ITIN. Certifying the original documents saves taxpayers from mailing original documents to the IRS.

 

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IRS and states audit representation

 

Taxpayers may receive audit notice from the IRS for various reasons such as under reporting income, claiming deductions, discrepancy in reporting, non-disclosure of required forms, claiming tax credit, etc. When you receive notice, firstly you need to understand the reason for an audit. It would be wise to hire a tax audit representative to defend yourself from the IRS. Without tax audit representation, you may pay additional taxes in addition to interest and penalties. Moreover, tax representative may ease your pressure, avoid making further errors and increase your chances of favorable outcome.

 

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