Amy Valenzuela CPA
International Accounting & Tax Advisory Services
There are very real circumstances when a local non-US tax advisor does not have the expertise or years of experience to undertand the ramifications of what expats go through or the complexities of disclosure and compliance.
We are expats who have the knowledge to guide you through the process. One of our specialities is working with clients that need a CPA with expertise in cross border tax issues and offshore disclosure & compliance. We provide all the necessary tax programs based on each client's circumstances.
Federal Tax Returns
U.S. Federal & State Income Tax Return Preparation & Expat Income Comparisons Forms 2555 and 1116, Schedule B, Forms 8938 & 5471.
In most circumstances, all U.S. tax payers, U.S. citizens, foreign residents, green card holders, etc. MUST file their federal income tax returns even if no tax is due.
Whether you live in the U.S. or have a foreign domicile, whether you have U.S. earned or foreign earned income or both - you MUST file.
We employ expats who understand your challenges. Most local state-side CPA's deal with local and regional tax issues and do not have the broad ranging knowledge and experience you are entitled to.
FATCA & Form 8938
The 8938 (Statement of Specified Foreign Financial Assets is filed together with your Federal tax return and is a separate from the FBAR.
If you meet the reporting threshold, then as a U.S. taxpayer, including U.S. Expats, you are required to report details of these holdings as part of your federal tax return.
Late Filers
We specialize in processing and filing expat tax returns for Americans who live or work outside the United States and U.S tax payers living in the U.S. who have foreign income and/or offshore financial assets.
Tax Disputes
Our tax experts can support you through the challenges of a tax audit, controversy, or IRS calls and correspondence.
Your relationship with the IRS and other taxing agencies needs to be professionally managed.
We strive to provide the most strategically sound advice and advocacy when dealing with tax issues.
You need a partner with the knowledge and resources to help you deal effectively when conflicts or controversies arise.
FBAR Disclosures
All foreign financial accounts including bank and savings accounts, brokerage, pensions, insurance with cash value, etc., in a foreign country, whether owned individually, jointly and with signatory rights alone where the cumulative of all accounts during the year is $10,000 or more.
This even includes accounts with a zero balance but were still open at any point during the year. Failure to report an account can result in significant penalties.
We guide you through the FBAR filing process. For current year FBAR filings, the deadline is June 30th. Unlike your tax return, there are no filing extensions.
Delinquent Taxpayers
The IRS is going after all delinquent tax payers and they are focusing now, more than ever, on people living overseas – that have foreign income and disclose offshore financial assets .
If a tax filer wants to come clean or simply did not know about reporting certain items – now is not the time to take the risk. There are penalties, past-due interest charges and fines that the IRS is enforcing. There is potential criminal liability. This is not hype – its reality. There are no extensions for past-due FBARs. Using a CPA that has the experience and expertise – is the right company that you want to have represent you.