U.S. Tax Returns and Tax Planning in Australia – Attorney & CPA

U.S. Tax Help Pty Ltd. has helped U.S. persons abroad (U.S. citizen expats, green card holders and others) to file U.S. tax returns since 2015, but is not accepting new clients at this time. A list of U.S. tax preparers in Australia can be found on the U.S. Consulate website.

For those who are not current with their U.S. filing obligations, the Streamlined Foreign Offshore compliance procedures offer an amnesty from penalties for non-filing (including the draconian penalties for non-filing of FBARs and information returns) where appropriate.

The Foreign Tax Credit alleviates the double tax burden in full for many Americans in Australia, thanks to the  U.S. Australia Income Tax Treaty.  The U.S. Australia Estate Tax Treaty is  important for Australians who are not U.S. persons.

Many U.S. taxpayers in Australia need professional help. U.S. tax laws and regulations run to over ten million words and are  in need of reform. Nowhere is this more apparent than in the imposition of international information reporting penalties starting at $10k per form for the many forms that we overseas taxpayers must file to report the minutiae of our country-of-residence business and asset  profiles, even though those forms do not result in tax liabilities and are inapplicable to U.S. residents who organize and operate their businesses in the U.S. The Taxpayer Advocate’s office recently spotlighted these incredibly unfair penalties, and the stress they cause for U.S. taxpayers abroad. They are also contributing to the rise in expatriations.

e-mail: keely@ustaxes.com.au