United States Citizens

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US Expatriate Tax

United States citizens and lawful permanent residents are required to file a United States tax return every year regardless of where they reside in the world, making US expatriate tax compliance compulsory. An exemption from filing is available if the individual’s income falls below a specified income threshold and meets certain other criteria required in order to qualify.

Certain disclosures to the United States government may also be required to be made on an annual basis. These are in addition to the requirement to file a United States tax return.

Disclosures may need to be made about financial accounts held with financial institutions located outside the United States, including signing authorities, which may be held either by the individual, or organizations in which the individual has a financial interest or for which the individual holds a signing authority.

Shareholdings in corporations located outside the United States, and interests in foreign trusts and foreign partnerships are also required to be disclosed in certain circumstances. Complex rules exist under the Internal Revenue Code requiring, in some cases, income from foreign corporations and foreign trusts to be attributed to a United States citizen or lawful permanent resident.

Should disclosures be required to be made, they may need to be filed together with the United States tax return, or separate to the return, all annually by a due date. Fines imposed on the individual for non-disclosure are as high as US$10,000 per corporation, and 35% of the gross value of property transferred to or distributed by a foreign trust. Receipts of foreign gifts may also be reportable transactions attracting penalties for non-disclosure.

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Preparation & Filing Of The United States Income Tax Return

The United States income tax return is prepared on a calendar-year basis for most taxpayers. The due date for filing the individual’s return, without extension of time for filing, is 15 April of the year following the tax year for which the return is prepared.

United States citizens and lawful permanent residents residing outside the United States are granted an automatic extension for filing of two months until 15 June. All tax must still be paid by the original due date for filing, 15 April. This applied to all who pay US expatriate tax.

Non-resident aliens are required to file a return by 15 June unless they receive wages subject to withholding tax, in which case the due date is 15 April.

United States citizens and lawful permanent residents may apply for an extension of time for filing for six months from the original due date, therefore until 15 October of the same year. This may be done either by submitting Form 4868 or making a payment of the estimated tax due.

Corporations’ income tax returns are due by 15 March of the year following the tax year for which the return is prepared. If an extension of time for filing is applied for, the corporation has until 15 September of the same year to file. Extension of time for filing is not an extension of time for payment. In order to avoid penalties and interest for unpaid tax, payment is required to be made by the original due date of the return, together with instalments of estimated tax by the due dates, where required.

Methods

Under the Internal Revenue Code, different methods may be available for the way in which items of income and expenditure are returned. Using different methods sometimes results in different tax positions, with one method resulting in a more favourable outcome than another method. Numerous tax credits, deductions and personal exemptions vary depending on the method engaged. Other factors impacting on the final tax position include the Alternative Minimum Tax and state taxation.

NZ US Tax Specialists has a reputation for being diligent, timely and thorough with the preparation of United States income tax returns. Within the constraints of ethical and legal obligations, where there is a choice in methods available, the method resulting in the best outcome will be used.

Please visit OUR SERVICES page to learn about how we can assist you with your US expatriate tax obligations and filing.

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NZ US Tax Specialists Limited

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21:30 21 Aug 24

I came across this person by google search . First attempt could not get connected .she so good returned my call with 5 min . Asked her few question , would say very good on what she does .Also plus point , she follows you up again . I would say very help full person . Recommend to go with her , no second thoughts .

Maryanne Garry

09:09 21 May 24

Gina is exceedingly detailed and knowledgeable. Her expertise is like a lifeline for US expats.

Matt Roll

04:09 21 May 24

I'm thankful for finding NZ US Tax Specialists because Gina is one of the few people I know with a working knowledge of the intersection of U.S. and NZ tax policies. Our tax return was accurately completed on time and without any issues. I'm planning to use their services for years to come.

Spencer Smith

03:47 21 May 24

US tax is a complex beast. Gina and her team have been very helpful to me and my clients with US tax issues.

Chris Lemon

22:46 20 May 24

Gina and the folks at NZ US Tax Specialists were very quick to answer a question I had on the NZ tax treatment of US Military pensions, a fairly obscure area of tax law. They're great to work with.

Danielle Fairey

20:00 15 Oct 23

Gina was such a great help in navigating my tax requirements after moving between the US and NZ. She was great to work with - always very responsive and helpful. I would definitely recommend and work with NZ US Tax Specialists again in the future.

Lingbawan Storer (Imbaw)

16:09 02 Oct 23

NZ US Tax Specialists has been a lifesaver with regards to a family member’s move from the US to NZ. Gina and her team have been there to help us understand the complexities of dual tax status and have greatly assisted in getting everything filed on time. While taxes will never be fun, working with NZ US Tax Specialists has brought our stress levels down considerably.

James Steele

02:57 13 Apr 23

Gina helped us prepare our US tax returns after we moved to NZ during a very busy time. We had no idea what was required as US citizens living abroad, but Gina was extremely helpful, knowledgeable, and professional. The work was affordable and well done. We had a great experience and hope to use NZ US Tax Specialists again.

Marivee McMath

06:35 13 Feb 23

I am very happy with the way NZ US Tax Specialists handled sorting out my US Taxes! It certainly put my mind at rest. Felt I was in safe 'hands' throughout the process.

Gareth Robins

04:31 13 Feb 23

Gina quickly attended to my tax questions and was very helpful

Deborah Munro

03:54 19 Oct 22

If you're a US expat and need to file a US tax return, then look no further! Gina and her team at NZ US Tax Specialists does outstanding, professional work. I had to amend my US tax return, as I didn't know I had to file a form. Gina got that done, but they also found I'd made an error, and they fixed that for me as well, keeping me in good standing with the IRS. I'm definitely returning next year to get their assistance again.

Karen Smith

23:32 02 Sep 22

I have been working with Gina since 2014, when I needed US Tax advice, being both a New Zealand and United States citizen. Over the eight years that we have been working together, I have found Gina to be extremely knowledgeable about the US tax system and the New Zealand IRD. She is quickly able to provide definitive answers to my US tax questions, via her extensive contacts in the US tax department.Gina is always prompt in responding to my email and phone conversation questions and her professionalism has inspired my confidence in her many times over.She has guided me through my annual tax return filing with integrity and honesty and I fully trust her to get the job done well each year.