US Tax Service For Americans Living In Hong Kong Helps To Comply With IRS Streamlined Filing Procedures

Many US expatriates want to live abroad to avail the opportunities that come with living overseas. However, they often forget or weren’t aware of the tax liabilities that also compriseresiding in a foreign country like Hong Kong as an expat. Just because a US citizen move to another country doesn’t mean theyare no longer liable for US tax filing or reporting responsibilities. If you’re an American living abroad and haven’t filed your annual US income tax returns for several years, hiring an expert US tax service for Americans in Hong Kong can easily help you comply with the IRS streamlined tax filing procedures.

Understanding the detailed insight of IRS streamlined tax filing procedures while living in Hong Kong as an expat can be overwhelming, but seeking expert consultation can help you get back on the right track.

Expert Of American Tax Consulting In Hong Kong Helps To Catch Up On Pending Taxes With Streamlined Foreign Offshore Procedures

If you’re a US citizen living in Hong Kong and have never filed your taxes while living overseas due to the lack of tax provision knowledge and guidelines, don’t need to panic. Still, you can control the situation by seeking the service of expert American tax consulting in Hong Kong to help you overcome the consequences. The taxation professional can help you with the IRS streamlined tax filing procedures by making you eligible for the IRS provision.

  • To qualify for the offshore streamlined tax compliance procedure, the hired tax consultant will prove the following fact:
  • You have lived in Hong Kong for at least 330 days during any one of the last three years and didn’t maintain a US abode.

Convince that your failure to file the US tax return in Hong Kong was absolutely unintentional as you don’t have an awareness of your tax return filing responsibilities as a US expatriate.

After qualifying for the IRS Streamlined Tax Filing Compliance Procedures

It is the years of expertise, knowledge, and presence of mind of US tax consultants in Hong Kong that may help you get eligible to file your pending taxes with compliance to IRS streamlined offshore procedures. The highlighted perk of having the professional US tax service for Americans in Hong Kong is that you will get another chance to rectify your mistake of not filing your taxes as a US expat. Hiring the tax consulting guidance of an expert will reduce your burden by:

  • Filing your income tax returns for the prior three delinquent taxable years
  • Filing FBAR on FinCEN Form 114 for the preceding six taxation years
  • Submit a statement of explanation with convincing facts stating the reasons why you haven’t filed your tax returns and FBAR.
  • Determine the tax and interest due for the last three years

IRS streamlined tax filing procedures require a good understanding of Hong Kong tax laws and essential forms need to file. A simple misunderstanding or mistake in the filing as per the IRS standard could result in severe penalties. Hence, you must get the guidance of a US tax consultant in Hong Kong to make sure your return is filed correctly as per the IRS streamlined offshore filing procedures.