If you did not use Taxes for Expats to prepare your tax return you may have done it incorrectly. To check your work, you can submit the last 3 years of tax returns for an expert review.
We can uncover errors made by other preparers and find opportunities to reduce your tax bill that others may miss.
A professional review of your tax return by an expert.
If any errors are found, explanation of potential consequences
Advice on whether an amended return is recommended
would be applied towards the cost of preparing an amended return if errors are found.
Sign up nowTax review covers all forms included in the individual tax return Form 1040. Forms 2555 and 1116 are also subject to the review process.
This service does not cover financial reporting (Form 1040NR is not included) and non-personal returns (business, trust, partnership, etc.). It includes the following deliverables:
Expat taxes have a lot in common with the famous children's story - The Story of Goldilocks and the Three Bears. First thing you should realize is that the government sees the IRS as a profit center - they are there to extract the maximum possible amount from every taxpayer. They will use every tool and trick at their disposal to accomplish that goal.
For example - if you miscalculate and pay too much (by not using all available exclusions and deductions) the government will happily keep the money. Otherwise if you make a procedural mistake and improperly fill out a form (we're not even talking about an actual tax underpayment) the IRS will annul your expat deductions, add fees/interest on your return and demand that you pay extra taxes.
Therefore as an expat American it is equally dangerous to fall on either side of filing a 100% correct tax return.
Just like the Goldilocks needed to sleep in the right bed (not too big or too small) - your expat tax return must be 100% correct.
In the normal course of business we often encounter clients whose previous returns were filed incorrectly (both self-prepared and done by inexperienced CPAs) resulting in large overpayments or penalties assessed by the IRS.
This is why at Taxes for Expats we introduced the Check my return service. It offers you a risk-free way to ensure that your expat tax return was filed properly. It doesn’t matter if you did the return yourself or used another tax firm - we will check it.
We Only Focus on Expatriate Tax Returns
While an average American CPA may encounter an occasional client who lives overseas, our tax preparation practice is solely focused on expats. This is probably our chief advantage over most other tax preparation firms ? which allows us to be more knowledgeable in this particular area of tax law.
Greater Attention To Each Return
Between February 1st and April 15th, the average tax preparer completes about 480 returns. With such an overwhelming workload, it's nearly impossible for a preparer to find the time to thoroughly evaluate your specific tax situation and apply all the latest tax laws and guidelines to reduce your liability.
Unlike most tax preparers, we perform reviews all year round. Moreover we focus only on expatriate tax returns, so we know the problems that commonly cause expats to overpay their taxes and the areas where many other tax preparers fall short. We can also afford to take the time to closely scrutinize your returns, compare them with new and updated tax laws, aggressively look for legitimate deductions that were either missed or not previously applied, and often further reduce your tax liability.
More Thorough Understanding Of Current Tax Laws
In the tax preparation field, it's what you don't know that costs you. There are literally dozens of volumes of laws that can potentially affect the amount of taxes you pay, and those laws change constantly. For example of how much things change all the time please check out our blog where we post updates daily (often multiple posts per day).
What most taxpayers don't appreciate is that even one oversight or missed deduction can make a significant difference. Unfortunately, very few tax preparers actually take the time to learn the hundreds of new tax laws legislated every year. The sad result is: Too many preparers are unable to identify recent tax issue, tax laws, and legitimate deductions. And too many taxpayers are overpaying their taxes.
One of the most important reasons for our success is the experience we bring to bear on the problem of expat taxation. Our professional staff pride themselves on maintaining an in-depth knowledge of all new tax laws and guidelines, as well as the latest industry developments and business requirements that could affect both your personal tax returns and those of your company.
Approximately 30% of tax reviews result in a refund or need of an amendment.
Our Check My Return service is performed to discover additional deductions and/or errors in favor of the client. We are not required to disclose and we don't disclose to the IRS whether a client may owe additional taxes.
We will inform you of the potential consequences of leaving things as are and allow you to make the determination which course of action you'd like to pursue.
Taxpayers can file amended tax returns up to three years after the due date or filing date of the original return, whichever was later.
A revised tax filing based on previously submitted tax return(s) to the IRS. The amended tax filing includes adjustments based on previously recorded errors and/or omissions. The IRS releases new tax deductions after the tax season is over. The IRS made over 400 new tax changes in 2002 alone. The IRS allows the taxpayer to take advantage of and apply the new deductions to previous tax filings.
It is not our intention to replace your current tax preparer. We provide you with a Free Second Opinion - giving you peace of mind that your tax preparer is working in your best interest to correctly file your tax returns. According to the IRS, a substantial number of taxpayers are overpaying their taxes. And over half of these tax returns have been prepared by professional accountants or CPAs. Our independent tax review process helps ensure that you are not overpaying and equally important that your tax preparer is applying all applicable deductions to help reduce your tax liability.
The IRS created the amended tax return process for taxpayers to take advantage of numerous changes in tax laws and to correct errors that were made. An estimated 3.3 million people amended their taxes in 2002. The IRS finds that approximately .5 percent of individual tax returns result in audit reviews. The chance of having a tax return randomly selected for audit review is minimal.
Yes. Any of the last three years tax returns can be amended as many times as needed to discover all missed deductions and/or errors.
The last three years previous tax returns and supporting schedules are required. Additional documents may be requested if new adjustments are claimed with the IRS on the amended tax return.
Our review period is approximately 10 business days. Once your amended tax return is filed, the IRS refund is processed on average within 3-4 months.
You are not required to pay tax on any Federal or Social Security/FICA refunds received, except for on the interest that the government pays you. You are required to pay taxes on all state refunds.
All client personal tax documents are strictly confidential. Through a comprehensive confidentiality agreement, Taxes for Expats provides assurance that personal information will not be sold, rented, disclosed, or shared, in either written or verbal form, with any third parties.