Filing US tax returns should be an essential concern for all US citizens, regardless of where you live or work. US citizens, with an income above a certain threshold, have to report their income from all sources. This includes, but is not limited to, any wages, business profits, capital gains or dividend income.
Why should US expats file their tax returns?
US citizens are required to file their US tax returns if their gross income is above the filing threshold. However, this does not mean you actually owe US tax! There are several tax benefits available for US citizens living and working abroad that will lower or eliminate your US income tax liability.
Not filing your tax return could have grave consequences. The IRS will incur interest and penalties on any US tax you owe. You’re even putting your US passport at risk because the IRS can revoke or refuse to renew your US passport if you have a lot outstanding debt. It is therefore of the upmost importance that you are compliant with filing and paying your US tax.
Filing your US taxes doesn’t have to be a timely and complex affair. With an US expat tax service it’s made easy and hassle free. It reduces the time and stress it takes to file US tax returns because the intuitive questionnaire and software will do all the thinking for you.
Why is it beneficial to use a tax service tool for filing your taxes?
Filing your US tax returns can be a daunting and time-consuming experience. Using an US expat tax service could make your life a whole lot easier. A software like this will ensure that your tax returns are correct and that you are getting the most out of the tax benefits available. Tax return software is very accurate because it helps you avoid making any mistakes because the software will validate all data and calculations.
The accuracy of an electronically filed tax return using tax software is not the only advantage over paper filing. Filing your tax returns electronically is a much faster process than mailing in your return. Electronically filed US tax returns are processed in approximately 48 hours and you will get a notification from the IRS when they receive your tax return. You won’t get a proof of receipt like this if you paper file.
Be aware that you should always use a reputed software that is certified by the IRS. You need to make sure that you use a software that utilizes modern encryption technology for filing tax. This way you can make sures your information is safe.
Buy yourself some peace of mind and file your US tax returns in time and without hassle by using a US expat tax service.