US expats: What kind of tax preparer is best for you?

US expats: What kind of tax preparer is best for you?

Does it make sense to file and prepare your taxes yourself? For some savvy folks, the answer is yes. For others, self-help software and a lot of bulk service providers aren't quite up to snuff. In this videos tax attorneys Anthony Parent and John Richardson discuss the best kind of tax preparers with Keith Redmond, one of the biggest Expat Advocates in the world. While tax reform did make filing taxes easier for most Americans, it did not make anything easier for US expats. And worse, the stakes are high, much higher than domestic returns if something goes wrong. but for US expats, it is common that Form 5471, 8938, 3520-A, 8865 and the like are required. Well that all have $10,000 penalties if the forms aren't filed or are field incorrectly. Additionally there is an FBAR penalty which doesn't require you to owe taxes to be penalized...even worse. So it is important that your return be done right with someone wit hthe irght level of expertise. Whether a CPA, attorney enrolled agent, all three can do a great jo for you -- assuming they are qualified. In this video, we give you some tips on how to qualify someone you are considering. if you feel we are a good fit for you contact us at 888-477-4258 or info@irsmedic.com Our clients come from around the globe to find us. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269-6699 info@irsmedic.com https://ift.tt/1RfwK1f https://youtu.be/aUOJYeHjAg8 IRS Medic

2020 US Expat tax news, updates & compliance tips

2020 US Expat tax news, updates & compliance tips

https://ift.tt/2vcoijt A video every American living overseas really should watch. Between FATCA, FBAR, and tax reform there is a lot of changes that can really have dire consequences if that handled correct. And so too the IRS's new awareness of foreign information return reporting like Form 8938 and Form 5471 Tax attorney Anthony Parent interviews fellow tax attorney John Richardson, Laura Snyder, a lawyer from the IRS Taxpayer Advocate's office, and Keith Redmond, global advocate for the American abroad. The four give candid advice to taxpayers based on their decades of experience. Who needs to be in compliance. What the IRS can do if you are not in compliance. Who is at risk for audit or criminal proceedings? And the four discuss an issue look of how Congress and the IRS look at the problem - and possible ways to get relief for Americans aboard who often have to pay large tax preparation fee just to prove they ow no money to the IRS (or could be due a refund) The video concludes with Attorney Richardson suggesting a Treasury Regulation that could on its own - defeat citizenship based taxation and give the IRS a tax code it can enforce. Parent & Parent LLP 144 South Main Street Wallingford, CT 06492 (203) 269 6699 info@irsmedic.com https://youtu.be/osSq74gEPBQ IRS Medic