As part of the recently-passed massive Coronavirus Aid, Relief, and Economic Security (CARES) Act, taxpayers will receive a direct stimulus payment within the coming weeks. This one-time remittance is based on an individual’s 2019 adjusted.

As an American expat, you may have heard about US tax compliance laws like FATCA but you may not know what impact these tax laws have on you as an American abroad and what compliance with them is required.

The potential implications of an inaccurate or late-filed FBAR are much worse than for an income tax return. The IRS reserves the right to impose a penalty of $10,000 for simply filing the FBAR late. We often find that clients forget to list 3rd pillar.

Living in Switzerland is a fantastic experience but if you’re one of the 40,000 Americans living in Switzerland, there are some important things you need to know about paying the US taxes Switzerland residents are required to pay.

Additional contributions to your Swiss 2nd and 3rd Pillar pension accounts may lower your current Swiss tax burden and increase your retirement savings, however, you cannot deduct these contributions from your U.S. taxable income.

We commonly discover that our clients own non-U.S. investment funds – such as Swiss “Fonds” and other foreign-issued funds (ETF, SICAV and the like) – in their custodial, 3rd Pillar, or pension holding (Freizügigkeitskonto) account. US tax services AG is one of the best tax services in zurich city of Switzerland. As the trusted US tax advisors in Switzerland.

Ensure your tax and reporting obligations are met before expatriating. To complete your final expatriation tax return you must certify to the IRS that you have complied with all of your tax reporting obligations for the previous five years.

US tax services AG is one of the best tax services in zurich city of Switzerland. As the trusted US tax advisors in Switzerland. We offer US tax preparation, compliance and advisory services for Americans, us tax zurich, us tax switzerland, switzerland cpa, zurich cpa, us tax accountant, us tax compliance, fbar, fatca, streamlined, expatriation, Dual-Nationals, Green Card holders and foreign businesses.

If you are married to a non-American and/or have a child with U.S. citizenship you may be able to choose between several filing statuses and claim them as dependents, optimizing your U.S. tax rate and increasing your deductions.

It comes as a surprise to many Americans living abroad that their children are likely also U.S. citizens, even if those children have never been to the U.S. or acquired a U.S. passport or social security number.