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US Tax Services for Individuals

The US is the only developed country in the world that taxes its citizens and residents on worldwide income and gains, no matter where they live. US expats and US persons with investments or financial accounts outside the US are also exposed to additional US tax compliance obligations and planning issues.

Annual Tax Return preparation – filing US taxes from the UK

Under the US tax system, US persons are required to file annual US income tax returns and various additional informational reports. Non-US persons must also comply with the US tax rules if they have investments in the United States, income or gains from the US, or own US entities through a non-US structure.

Failure to file the returns and reports in a timely manner, or incorrectly, can result in substantial penalties.

Peace of mind and sound financial planning

US Tax & Financial Services provides a unique, individualized service and creative solutions including:

  • US tax return preparation and international tax reporting services
  • Foreign Bank Account Reports (FBAR), FinCEN Form 114 preparation
  • Advice on the efficient use of foreign tax credits
  • Tax implications of investments and property purchases (especially the purchase of a home)
  • Wealth and inheritance tax planning
  • Trust advisory and compliance services
  • Pension tax planning
  • Advice on tax issues as regards an interest in non-US corporations, partnerships and trusts
  • Expatriation tax advice and compliance
  • State tax advice
  • Tax Treaty advice

Holistic service from cross-border professionals

US tax planning cannot be done in isolation. Due consideration must be given to the tax rules of the country where the expatriate lives. A coordinated approach is essential to achieve the most beneficial overall tax treatment. US Expats should seek early advice and planning help to significantly reduce both US and foreign taxation and avoid unnecessary penalties.

Did you Know?

  • Fact Seven

    Thanks to FATCA banks must disclose their American account holders to the IRS or local tax authority.
  • Fact Six

    The IRS is actively looking for non compliant US persons.
  • Fact Five

    It takes an average of 16 hours to do IRS Form 1040.
  • Fact Four

    There are over 500 IRS tax forms.
  • Fact Three

    Since 1916, illegal income has been taxable.
  • Fact Two

    US persons must file tax
    returns no matter where they live and work.
  • Text One

    7 million Americans abroad
    only 500,000 compliant