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Tax Services for expat US citizens
The Internal Revenue Service in the United States takes tax compliance very seriously. Tax legislation requires all US citizens and Green Card Holders to file an annual US income tax return and report their worldwide income, regardless of where they reside. It also requires disclosure and reporting of any foreign bank accounts, foreign assets, interests in foreign companies and/or foreign trusts, subject to certain qualifying criteria.
US citizens residing in New Zealand face 'double taxation' reporting as they need to include worldwide income in both their US return and New Zealand return, although a tax treaty between the two countries minimises the 'double taxation' effect. With steep penalties for non-compliance, it pays to have specialist assistance to ensure your US tax filing requirements are met.
Accru Smith Chilcott Limited has been assisting US citizens and US Greencard holders living in New Zealand to manage their US tax affairs for over twenty years. With a wide range of clients from diverse professions including IT, medical, education, consulting, media and the arts, both in New Zealand and overseas, we have accumulated a vast amount of knowledge of US tax issues.
While our main area of specialty is dealing with US tax matters relating to US individuals, our extensive experience spans a variety of cross-border US tax assignments including issues that arise with Grantor Trusts. As a result, our firm is listed as a US Tax Specialist on the United States Embassy website.
Our services include:
- Preparation of US tax returns, State returns and Non-resident tax returns
- Review of US returns prepared by others or self-prepared for accuracy
- Assisting US citizens with bringing their US individual tax returns up-to-date when US returns have not been filed for several years
- Voluntary Disclosures for clients who were not aware that they were required to file tax returns or reports of foreign bank accounts
- Tax planning including structuring, managing self-employment tax, and managing pension withdrawals so tax effects are minimised
- Preparing disclosure forms for US citizens with financial interests in foreign companies and trusts
- Advising US citizens with foreign spouses of tax implications, such as the implications of holding a Green Card
- Assisting with the renunciation of US citizenship status
- Advising on double taxation relief by claiming foreign tax credits.
Our membership of CPAAI International, a leading global accounting association, gives us access to tax professionals in over 63 countries, providing significant benefits to US citizens residing in New Zealand and Australia.