IRS has started accepting tax returns for 2022: How expats can file their tax returns easily
Before going into the details of filing 2022 tax returns, let us have a fair idea of what US expat tax is. According to the U.S. tax system, persons living abroad as U.S. citizens or resident aliens are subject to taxation based on their worldwide income. Expats must combine their U.S. income and overseas income to determine the cumulative amount of payable tax. This could be a challenging task and a slight error can lead to dire consequences. Hence, it is prudent to leave the matter to the best expats tax consultants in Toronto.
We have a cream of the crop international tax consultancy service in Toronto ready to make things stress-free for you.
How to File an Expats Tax Returns?
First thing first. Let us begin with the last date of filing tax returns for the financial year 2021. 18th April, 2022 is the official deadline to submit tax returns for 2021. However, U.S expats are allowed an automatic extension of 2 months. Therefore, if you are on duty during the timeframe of 18th April you can submit the tax return latest by 15th June 2022.
Broadly speaking, there are two ways to file the tax. You can do it manually by enclosing a money order/ a cheque or you can do it digitally. Both the methods are discussed below-
Via Mail:
If you want to submit your tax return for 2021 manually, you have to issue a cheque or a money order along with Form 1040.
Electronic filing (e-file):
Taxpaying expats whose income is within the range of Adjusted Gross Income can electronically file their tax using Free File. However, there is third-party software that costs you money that can be used to file taxes particularly if you earn more than the Adjusted Gross Income.
You need to have a Social Security Number (SSN) to file taxes. In case your spouse does not have an SSN or is not eligible for SSN, you must obtain an Individual Taxpayer Identification Number (ITIN) by filing Form W-7 and other paperwork.
It is highly endorsed to seek help from US Tax consultants in Toronto to get your job done smoothly. For a hassle-free tax payment and return, contact the Personal Tax consultancy service in Toronto. With the help of these services, you can make your experience easy.
