Tax deadline 2022: Everything Expats Need to Know
According to the general rule of the IRS, every U.S. taxpayer must file the annual tax within 18th April 2022. Therefore, it is the busiest hours for the Personal Tax consultancy Service in Toronto. Although there is an extension of around a couple of months in case you fail the date. However, you must submit your annual taxes latest by 15th June 2022. It is however recommended to get in touch with the Expats Tax Consultants in Toronto to get the process done smoothly.
Expats taxes are not exactly similar to regular taxes of U.S. citizens. Furthermore, the policies pertaining to expats’ taxes are constantly changing. It is always safer to bank on the best international tax consultancy service in Toronto to have your annual tax filing done without a hassle. Here we will discuss the key aspects of ex-pats tax 2022 in brief.
Calculation of Expats Taxes
As we have already mentioned, the regular taxes of American citizens are different from that of the expats. There are a set of rules particularly for U.S. resident aliens (U.S. citizens who live outside the American territory). In the case of expats, there are two key components that come into the scene during tax filing. These components are:
1.The total amount of income on the American soil
2.The total amount of income on the foreign soil
Expats must club both the categories (income incurred in and outside the US) to calculate the exact amount of payable tax. This might seem to be an easy task on pen and paper, but this could well lead to uncalled for complexities. Above all, a slight miscalculation could worsen the entire scenario and one may face dire consequences. Thus, you should leave these matters at the hands of the experts. We recommend you to contact the US Tax consultants in Toronto to get your job done as soon as possible.
Filing Expats Taxes
There are two distinctive methods introduced by the IRS to file your 2022 annual expats taxes. These two methods are discussed below-
- Manual Process: This is the classic mailing process wherein you can send a cheque or a money order to the IRS. The address to send you mail is:
Internal Revenue Service
P.O. Box 1303
Charlotte, NC 28201-1303
USA - E-Filing: This method on the other hand is the current procedure to file your taxes. You can file your annual expat taxes through Free File. However, those who earn more than the Adjusted Gross Income would have to use third-party software (paid) to file the taxes.
Contact the nearest Expats Tax Consultants in Toronto today to avoid unnecessary complications and enjoy the service seamlessly from the comforts of your home. From ITIN generation to filling in needful documents, let the finest US Tax consultants in Toronto be your partners.
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