US Citizen Green Card holder living outside of the USA FAQ
Need Help? We have got you covered!
We provide US and UK personal tax services and Certified Acceptance Agents (CAA) in 4 countries helping people all over the world get their ITIN number(Form W7), EIN number, Form 8233, W-8BEN, W-BEN-E, 1040NR, 1040, SA100.
We understand from our clients query that there are significant confusion around the ITIN or EIN and US Tax filing requirements and tax reclaim process for excess taxes withheld. We have complied the FAQS based on our client query, we hope you find your answers and if you have any further queries, please do not hesitate to contact us. ( Add a link to landing page)
We aim to have your ITIN/EIN application process less stressful, faster by quick response to your emails, arrange for the meetings to certify the passports and complete all the relevant paperwork with flexibility with the time, meeting venue and to locations that suitable to both the representatives and our clients.
US Citizen Green Card holder living outside of the USA [FAQ]
U.S.A Form 1040 Expatriate Tax Filing Deadlines for US Citizens, Greencard holders and Resident Alien
- April 15 – Tax payment deadline. After this date, interest will be assessed on any tax due.
- June 15 – Tax filing deadline (for the tax year 2018, the deadline is June 15, 2019). If you cannot file by then, an extension can be filed to extend the filing deadline to October 15. Penalties can be assessed after this date on any tax due.
U.S. Citizens & Green Card Holders must file a U.S. tax return and report worldwide income even if living outside the U.S. (unless you don’t meet the minimum filing requirements).
The gross earned income (i.e., Foreign Wages/Business Income) can be reduced or eliminated by claiming:
- Foreign earned income exclusion (for 2018, up to $104,100 per qualifying person (i.e., if you are married and both work abroad, you may be able to each exclude up to $104,100 of your earned income),
- Foreign housing exclusion (i.e., if renting)
- Foreign tax credit (i.e., Taxes paid to foreign country claimed as a credit on US 1040 tax return subject to maximum allowable limits)
The foreign earned income exclusion may be available if you meet either the:
- The foreign earned income exclusion may be available if you meet either the:
- Bona fide resident test-BFR (you’ve lived in a foreign country for over a year, made it your home, and (generally) pay taxes there. There are no specific time restrictions; for instance, it is possible to be away from your foreign residence for months and still meet the test), or
- Physical presence test-PPT (you were physically outside the U.S. for 330 days out of any 365 day period, and your tax home was abroad). See below.
- Note: You cannot claim a foreign tax credit or foreign earned income exclusion on the portion of your wages generated during business trips to the U.S. Any income earned while working in the U.S. is subject to U.S. tax. For some people, it is significantly more beneficial to claim the foreign tax credit and not claim the exclusion.
Foreign Bank and Financial Asset Reporting Requirements
- If you had, in all foreign accounts combined, over $10,000 at any time during 2018, you are required to file Form TDF 90.22-1. We can complete this form for you based on information you provide and have them electronically e-filed. Please note the filing deadline for the Foreign Bank and Financial Asset Reporting Form is 15th April 2019. If a valid extension is filed by 15th April 2019, you can get an extension until 15th October 2019.
- New starting tax year 2011: If the total value of your foreign financial assets exceeds the figures below, you are required to file Form 8938 with your tax return. There is some overlap between the foreign bank report (i.e. FBAR or Form TD F 90-22.1) and Form 8938 as they may cover the same foreign financial accounts. That includes reporting of the depository, custodial, or other financial accounts maintained by a foreign financial institution (such as a bank or brokerage company). On Form 8938, you must also include any assets not held in an account maintained by a foreign financial institution including (1) Shares of a foreign company held directly and not through a broker, (2) interests in foreign entities, (3) loans to foreign persons or entities, (4) any financial instrument or contract held for investment that has a foreign issuer or counterparty. For any income generated from your foreign financial assets, Form 8938 also requires a summary of income reported on the tax return along with Form and line numbers. See also the instructions for Form 8938.
Living in the United States (Form 8938 Threshold):
Single or married filing separately
- $50,000 + on 12/31/2018
- $75,000 + at any time during the year
Married filing jointly
- $100,000 + on 12/31/2018
- $150,000 + at any time during the year
Total Value of Foreign Financial Assets:
- Thresholds for Filing Form 8938
Living outside the United States (Form 8938 Threshold):
Single or married filing separately
- $200,000 + on 12/31/2018
- $300,000 + at any time during the year
Married filing jointly
- $400,000 + on 12/31/2018
- $600,000 + at any time during the year
We work on a fixed fee policy which is based on the complexity of the work. Our fees are extremely competitive and we strive to provide excellent professional client service at affordable price. Please email or call us for a free consultation and fee quote.
WELCOME TO ITINCAA
ITINCAA (AKA TAXANDACCOUNTING HUB) aims to provide expert solutions to you ITIN, EIN, or US Personal tax-related matters considering the appropriate double taxation treaty rules and correct supporting documentation.
We are IRS Approved Certified Acceptance Agents [CAA] (United Kingdom Head Office), with our IRS representative based U.A.E, India, Singapore.
We also assist foreign nationals who require passport certification with Form W7/CAA Service completion in below listed countries;
Middle East I Saudi Arabia I Qatar I Oman I Turkey I Austria I Germany I Belgium I Croatia I Czech Republic I Denmark I Finland I France I Hungary I Italy I Luxembourg I Norway I Russia I Slovakia I Switzerland I Ukraine I Malaysia I Indonesia I Taiwan I Thailand I Hongkong I Japan I New Zealand I Pakistan I Bangladesh I Sri LankaI India I United Kingdom I Scotland I Ireland I Wales I Singapore I UAE and other global clients.
Please refer to contact us page for more details on the process.