Your Trusted Ally for Global Tax Compliance

• FBAR & FATCA Filing
• PFIC
• E-Filing & Paper Filing
• Extensions for Tax Returns Filing

Stay Globally Compliant with Our Expert FBAR & FATCA Filing

• FBAR (Foreign Bank Account Report): A requirement for U.S. citizens, residents, and entities to report their foreign financial accounts if the aggregate value exceeds $10,000 at any time during the calendar year. Filed with the Financial Crimes Enforcement Network (FinCEN) using FinCEN Form 114. The primary goal is to prevent tax evasion by ensuring all foreign financial assets are disclosed to the U.S. government.
• FATCA (Foreign Account Tax Compliance Act): Requires U.S. taxpayers to report specified foreign financial assets if the total value exceeds certain thresholds. Individuals must file Form 8938 with their annual tax return. FATCA also requires foreign financial institutions to report information about accounts held by U.S. taxpayers to the IRS. Both FBAR and FATCA enhance financial transparency and combat tax evasion — compliance is essential to avoid substantial penalties, fines, and legal consequences.

Why FBAR & FATCA Compliance Matters

The FBAR and FATCA regulations are pivotal tools in the global effort to combat tax evasion and promote financial transparency. For U.S. citizens and residents, compliance is not just a legal obligation but a critical step in maintaining financial integrity and avoiding severe consequences.

• Combatting Tax Evasion: By requiring individuals and entities to report their foreign financial accounts and assets, these regulations ensure income held abroad is transparent to U.S. tax authorities.
• Avoiding Significant Penalties: Non-compliance with FBAR can result in penalties from $10,000 per violation for non-wilful to 50% of the account balance for wilful violations. FATCA non-compliance can lead to up to $50,000 fines and a 40% penalty on understated tax.
• Maintaining Legal Compliance: Adhering to FBAR and FATCA requirements is essential for staying within the bounds of U.S. tax laws. Failure to comply can lead to civil and criminal charges.
• Ensuring Financial Transparency: Proper filings contribute to overall financial transparency, providing a clear picture of an individual's global financial position for accurate tax liability assessment.
• Demonstrating Good Faith: Timely and accurate filing demonstrates good faith and willingness to comply with tax laws, which can be beneficial for voluntary disclosure situations where the IRS may consider leniency.
• Preventing Future Issues: Proactive compliance helps prevent future issues with the IRS and ensures individuals remain compliant with evolving tax laws — saving significant time, money, and stress in the long run.

U.S. taxpayers who hold shares in a Passive Foreign Investment Company (PFIC) are subject to special tax rules and reporting requirements. These rules are designed to prevent U.S. taxpayers from deferring U.S. tax on income from foreign investments or avoiding U.S. tax by investing in foreign corporations. The main reporting requirement is Form 8621 (Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund). PFIC rules ensure U.S. taxpayers pay their fair share of taxes on income earned through foreign investments and increase transparency in international financial transactions.

Effortless Tax Filing with Our E-Filing & Paper Filing

We know that tax season can bring stress and confusion. Whether you prefer the speed and convenience of electronic filing or the traditional paper method, our comprehensive services are designed to make your tax filing process smooth, accurate, and worry-free. We strongly recommend e-filing as the best option, but we're also here to assist with paper filing when necessary.

Why E-Filing is the Best Option

E-filing allows you to submit your tax return quickly and easily from anywhere. Our advanced e-filing software checks for errors and ensures your return is accurate and complete, significantly reducing the risk of mistakes that could lead to delays or penalties. We prioritize your privacy and security — our e-filing services use encryption and secure protocols to protect your personal and financial information.

• E-Filing: We handle the entire process of filing your taxes online, ensuring your return is submitted accurately and efficiently. Our experts guide you through each step, making sure you take full advantage of all eligible deductions and credits.
• Paper Filing Support: If any part of your tax return is not eligible for e-filing, or if you prefer the traditional method, we provide thorough assistance — including preparing and organizing all necessary documents, reviewing your paper return for accuracy, and ensuring timely submission.

You might need to file for an extension for your U.S. tax return if you need more time to gather necessary documents, if you're dealing with complex tax situations, or if unexpected circumstances arise. Common scenarios include:

• Multiple Sources of Income or Deductions: If you have multiple sources of income, investments, or deductions, you might need extra time to ensure everything is accurately reported.
• Waiting for Additional Information: If you're waiting for K-1 forms from partnerships or S corporations, an extension gives you the time to file an accurate return with all relevant documents.
• Personal Issues or Events Delaying Filing: Events like illness, travel, or other personal issues can delay the tax filing process. An extension allows the flexibility to file on time while managing unexpected situations.

Available Extensions for U.S. Tax Returns

• Form 4868: Provides an automatic six-month extension for filing individual income tax returns (Forms 1040, 1040NR, etc.), moving the filing deadline from April 15 to October 15.
• Form 2350: Specifically for U.S. citizens and resident aliens living abroad who expect to qualify for a foreign-earned income exclusion or a foreign housing exclusion.
• Automatic Extensions for Expatriates: U.S. citizens and resident aliens living outside the U.S. on the due date receive an automatic two-month extension (from April 15 to June 15) without submitting any additional forms.

For Businesses

• Form 7004: Provides an automatic six-month extension to file certain business income tax, information, and other returns (Forms 1120, 1065, etc.). Moves the deadline from March 15 to September 15 for calendar-year entities.

Important: Filing Extensions vs. Payment Deadlines

Filing for an extension grants you additional time to submit your tax return, but it does NOT extend the deadline for paying any taxes owed. Taxes must still be estimated and paid by the original filing date (April 15 for individuals) to avoid penalties and interest.

• Filing Extension (Form 4868 / Form 7004): Gives you extra time to file accurately — but any taxes owed are still due by the original deadline. Failure to pay on time will result in interest and penalties even if the extension is granted.
• Payment Deadline — Original Filing Date: You are still required to estimate and pay any taxes due by the original filing date to avoid penalties and interest, regardless of any extension filed.