Our US Tax specialists, Patrick Tyrrell and Karl Svazas are here to help you enhance tax savings and avoid risks.
Numerous deadlines for individuals with US tax reporting requirements are approaching. Have you filed or do you have plans in place to file? If you are or were a US citizen, US permanent resident (green card holder), worked in the US during 2018, or had US assets you may have US filing obligations, even if you did not live in the US during 2018. Timely compliance is critical for avoiding costly fines, tax levies, or in extreme cases even legal action and denial of a US passport.
Below is a sample of some of the important upcoming deadlines:
- Individual income tax (Form 1040 or Form 1040NR) – April 15 (June 15 for taxpayers outside the US)
- Receipt of foreign gifts and foreign trust transcations (Form 3520) – April 15 (June 15 for taxpayers outside the US)
- Foreign bank account report (FBAR/Form FinCEN 114) – April 15 (automatically extended to October 15)
- Gift tax return (Form 709) – April 15
- Trusts and estates (Form 1041) – April 15
Need more time to gather your information?
Not sure exactly what needs to be done?
Extensions of time to file are generally available to allow several more months to complete reporting. Make a plan to file or extend on time so your deadlines will be smooth and worry-free.
Berney Associés offers professional advice and assistance in meeting all your US compliance and planning needs.
Forgot, did not know about or otherwise missed previous years of reporting?
Contact us to learn more about what action you may need to take and how we can help.