TAX Service For US Citizens
FATCA and its Impact on The US Citizens Living Abroad
All U.S. citizens working and residing in France are required to file and report on their worldwide income.
FATCA law is designed to improve tax compliance involving foreign financial assets and offshore accounts.
Penalties for non-compliance are potentially severe.
Under FATCA, U.S. taxpayers with specified foreign financial assets that exceed certain thresholds must report those assets to the IRS.
With our CPA partner USFAAF, we provide full tax services for individuals, SMEs and large enterprises.
Aside from offering conventional Tax Filing services, we also provide Tax Planning services to better optimize your tax status, as well as providing Tax Dispute Litigation and Resolution.
FATCA & US Tax
Foreign Account Tax Compliance Act (FATCA) generally requires all Foreign Financial Institutions (FFIs) to report all financial information on its clients that are considered “U.S. Persons”. Since all U.S. Persons are required to file U.S. taxes and FBAR annually, these regulations help improve compliance by offshore U.S. Persons.
ESCEC International, now provides U.S. Tax Planning, Tax Preparation and Tax Filing services for U.S. Persons (Individuals and Businesses) residing in the E.U. area.
The U.S. Department of Treasury requires that any U.S. Person with bank accounts outside United States must file Foreign Bank Accounts Report (FBAR) on all bank accounts that exceed a certain threshold during the tax year. FBAR is filed if the highest aggregated day balance of all accounts during the year (365 days) exceeds $10,000 for individuals or $50,000 for a businesses.
FBAR preparation and filing is included as part of our special package for U.S. Persons in the E.U.
Many U.S. Persons, due to lack of knowledge or financial struggles, are forced into complicated situations regarding improperly managing their tax filing and / or their tax liabilities in a timely manner. Most of these complications can be solved with serious attention and proper communication with IRS through your CPA or Tax Attorney.
IRS offers compliance and tax amnesty programs such as Streamlined
Procedures (SLP) and Offshore Voluntary Disclosure Program (OVDP) to solve these complications.
Our Tax Attorneys have the know-how and expertise to find the best program to provide tax relief and tax resolution with minimal financial impact on our clients. We have resolved over $81M in tax debt for our clients to date.
10 Year Tax Account Analysis Report
We have noticed, through a recently conducted study, that 90% of IRS mail communication to U.S.
Persons living abroad never reaches its destination. To ensure you are on top of your IRS account we have set up a process with the IRS to prepare a FULL annual report that covers your relationship with the IRS for the past 10 years.
- Tax Transcript.
- IRS Account Summary.
- IRS Red Flags.
- All IRS Examinations.
- All IRS Notices.
- Payments History.
- Filed Liens.
- All Assessed Penalties and Interests.
The IRS Tax Account Analysis Report is included as part of our annual package for our existing clients which also includes the service of receiving a copy of all IRS mailed communication. We also offer it for FREE (value $375) for all our new clients as part of our free tax situation analysis consultation. Please take advantage of this intensive 10 year IRS account analysis.