Additional Expat Tax Services
Additional Forms, Schedules and Services:
- Schedule C – One is included in our base price, each additional is charged at $100 USD for each additional source of self-employment income/loss
- Schedule D – 20 capital gain transactions are included and each additional 20 will be charged at $100 USD
- Schedule E – One rental property is included and each additional Sch E will be charged at $75 USD (this is used to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in REMICs)
- Schedule F – This form is used to report profit or loss from farming activities and we charge $115 USD for this form.
- Schedule K-1 – Up to 3 K-1’s are included in our base price, each additional will be charged at $60 USD
- We include listing the first 20 bank and brokerage accounts on your tax return in or base tax return price. If you have more than 20 accounts we charge $25 USD for each additional 5 accounts that need to be reported.
- Form 709 – This is the US Gift and Generation Skipping Transfer Tax Return and is used to report transfers subject to the federal gift tax, generation skipping transfers (“GST”) and to allocate the lifetime GST exemption to property transferred during the transferor’s lifetime. We charge $400 USD to complete this form.
- Form 926 – This is the US Transferors of Property to a Foreign Corporation and is used by a US citizen or resident, a domestic corporation or a domestic estate or trust to report transfers of property to a foreign corporation. We charge $115 USD to complete this form.
- Form 962 Election on 1120 Forms, this allows owners for an entity registered in a low tax jurisdiction to choose to have their allocation of the corporate profits taxed at the US corporate tax rate with a 50% deduction applied. We charge $885 USD for this form.
- Form 965 – Is the Inclusion of Deferred Foreign Income form and is used to report and pay the repatriation tax due under the Tax Cuts and Jobs Act which required deferred earnings from foreign corporations to be reported. We charge $600 USD for this form.
- Form 990-EZ – This is the Short Form Return of Organization Exempt from Income Tax and is an informational return required from tax exempt organizations, nonexempt charitable trusts and section 527 political organizations. We charge $400 USD for this form.
- Form 1040-X – This form is used to amend or correct a previously filed form 1040, make certain elections after the prescribed deadline, change amounts adjusted by the IRS or make a claim for a carryback due to a loss or unused credit. We charge $485 USD for this form.
- Form 3115 – Is the Application for Change in Accounting Method and is used when you change either the overall method of accounting or the accounting treatment of any item. We charge $435 USD to complete this form.
- Form 3520 – This form the Annual Return To Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts and is used to disclose transactions with foreign trusts, ownership fo foreign trusts and receipt of certain large gifts or bequests from foreign persons. We charge $400 USD for this form.
- Form 3520a – This form is the Annual Information Return of Foreign Trust With a U.S. Owner and is used to disclose a foreign trust with a US owner or beneficiary. We charge $400 USD for this form.
- Form 5471 – This is the Return of US Persons With Respect to Certain Foreign Corporations and is used by officers, directors or shareholders to report their interest in foreign corporations. We charge $600 USD to complete this form for active foreign companies and we charge $250 USD for Dormant foreign companies.
- Form 5472 – This is the Information Return of a 25% Foreign-Owned US Corp and is used to provide the required information when a foreign entity owns 25% or more of a US entity or a foreign corporation is engaged in a US trade or business. We charge $215 USD to complete this form for a corporation and we charge $350 if this return is for a US LLC with Foreign Owners.
- Form 8621 with distributions – This is an Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund informational return and is filed by a shareholder of a passive foreign investment company (“PFIC”) an example would be a foreign mutual fund. We charge $250 USD to complete this form when their have been distributions and $165 USD if there have been no distributions.
- Form 8832 – Is the Entity Classification Election and is used by an eligible entity to choose how it will be taxed for federal tax purposes, as a corporation, a partnership or as a entity disregarded as a separate entity from its owner. We charge $150 USD to complete this form.
- Form 8833 – This form is used to disclose a Treaty Based Return Position and we charge $85 USD for this form.
- Form 8854 – This is the Annual Expatriation Statement and is used by US citizens or long-term residents who have ended their residency or expatriated on or after June 4th 2004. We charge $385 USD to complete this form.
- Form 8858 – This is the Report of Foreign Disregarded Entities and is used to report a foreign owned disregarded entity such as a foreign LLC . We charge $300 USD to complete this form.
- Form 8865 – This is the Return of US Persons With Respect to Certain Foreign Partnerships and is used to report ownership of, transfers to and acquisitions, disposals and changes in foreign partnership interests. We charge $400 USD to complete this form.
- Form 8992 – Is the US Shareholder Calculation of Global Intangible Low-Taxed Income (GILTI) form and is used by US shareholders of controlled foreign corporations (CFCs) to figure their GILTI inclusions as per section 951a. We charge $600 USD to complete this form.
- Form W-7 is the form used to apply for an ITIN or Individual Taxpayer Identification Number. We charge $295 for this form and $150 for each additional W-7 by the same family.
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Additional Services Questions
Are there flat fees for the US expat tax forms and schedules that are not commonly used?
Yes! Our goal is to be as transparent as possible with our pricing. We make it a priority to establish flat fees whenever possible. Our federal package includes the most common forms and schedules that most expats need to file including:
- All standard expat forms: Forms 1040, 1116, 255;
- One of each of the following schedules: Schedules A, B, C, D, E (one rental property);
- Up to three Schedule K-1s; and
- Up to 20 bank and brokerage transactions.
If you need any additional forms or schedules, we are happy to prepare those for you as well, and a list of the fees we charge for each can be found under Additional Services.
In most instances, our customers do not need additional forms or schedules filed on their behalf. However, if additional forms are needed, you will confirm this with your accountant prior to drafting your return so that their are no surprise fees!
What are the important US tax deadlines?
April 15th, June 15th, and October 15th
*If the 15th falls on a weekend, then the due date becomes the first business day of the following week.
Expatriates must be aware of the following deadlines for their US expat tax return.
US filing deadline and the date that tax payments are due, even for expats.
US expats receive an automatic extension until June 15th to file their US taxes; note that taxes are due on April 17th, and interest (but no penalties) will be applied if taxes are not paid by April 17th. Penalties will apply if taxes are not paid by June 15th. The 15th is also the FBAR deadline for US expats; however, there is an automatic extension until the October 15th deadline.
Final deadline for expat tax returns for those who have filed for an extension. This is also the final deadline for filing an FBAR.
Please Note: The US Federal tax return extension is an extension of time to file and not an extension of time to pay any tax due to the IRS. If you owe tax to the US, your interest will start accruing from the first tax deadline – April 15th. Additionally, if you do not request an extension and do not file, a late payment penalty of 5% may be assessed each month until the tax is paid.
Learn more about deadlines and extensions in our blog.
If you are a resident alien, generally you will have the same filing requirements as a US citizen within the US.
If you are living in the US, you will have the same filing deadline as other residents and citizens: April 15th.
However, if your main place of residence is still outside the US, you will have an automatic extension until June 15th (please note that all taxes owed will still be due by April 15th) for your tax return filing.
Who will actually prepare my US expat tax return?
When you work with Greenback, you will be paired with a qualified accountant—either a CPA or an IRS Enrolled Agent—with expertise in your tax needs.
Your accountant will bring years of expertise and experience in expatriate taxation to your tax preparation. Our tax professionals boast some of the most impressive credentials in the accounting industry. Plus, they’re friendly, helpful, and committed to getting your taxes done right!
How much experience will my accountant have?
Your accountant will have:
- Credentials as a Certified Public Accountant (CPA) or IRS Enrolled Agents (EA)
- 5+ years of experience—during which time they must have prepared expat tax returns specifically
- In-depth understanding of expat tax requirements, credits, and planning
- Up-to-date knowledge of the latest tax code changes
- Many have master’s degrees or other advanced degrees in accounting, law, or finance
- Often, your accountant will have lived abroad themselves and knows the joys and challenges of expat life
Will my accountant be friendly and responsive to my questions?
In addition to tax expertise, your accountant will be friendly, helpful, and answer all of your questions promptly. Your dedicated accountant will take time to get to know you and your specific situation. Understanding your unique needs will help your accountant secure the biggest savings and best tax outcome for you.
Many of our accountants previously worked for Big Four accounting firms—which are the largest professional services companies in the world. Now, they’ve chosen to focus their talents on helping expats like you because they enjoy giving clients personalized attention and being a part of your adventure abroad.
Will my tax prep ever be outsourced?
No, we will never outsource your expat tax return preparation to anyone outside of our team. You will always be paired with one of Greenback’s accountants, all of whom have been hand-selected to represent the best the accounting industry has to offer.
In fact, if you choose to work with Greenback year-after-year (and we hope you do!), you’ll typically have the option to work with the same tax professional next year.
Curious about the rest of the team? Learn more about Greenback’s expat founders and management team.