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THE US TAX SERVICES

Why to lose your hard earned money when you can save it. With THE USA TAX SERVICES,  tax consultation services increase tax refund amount into your bank account.

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FBAR Filing: When to Do It and How to Do It

Don’t get amused if you are hearing this name while filing a Tax return online. FBAR is a Foreign Bank Account Report also known as FinCEN Form 114. So, if you have financial accounts in foreign banks then you need to know everything about FBAR and how to file it legally.

Condition to file FBAR is to have at least a total of $10,000 in all financial accounts based outside the USA. Remember, its the total amount and not just of the single bank account.

When to file FBAR?

The main objective behind the FBAR from federal government and IRS is to know every financial account detail of a US Citizen living at any corner of the world. Thus, you can file the FBAR report any day on the year. Reporting FBAR once a year is mandatory with 15 April as the deadline in most of the cases.

How to file FBAR?

Just like income tax efiling, FBAR filing is a step by step process that includes Form 114. Prepare all the information about your financial bank accounts outside the 50 States of the US. In case your life partner also possesses foreign bank accounts, you need to take care that a joint form can be filled only in case of having joint foreign bank accounts. If your spouse has a different account than yours, then a separate form filling would be needed.

Here are the simple steps to file an FBAR with help of best online tax service of USA Tax Preparation services.

1. Go here and find USATS FBAR filing services 2. Put your details as mentioned in the form. You can take help of the USA Tax Consultant from USATS in the process also. 3. Sit back and relax while USATS files your FBAR with all laws followed

Hurray! You are done with the hectic process quickly with USATS.

What if You fail in Filing FBAR?

There are nothing new but very serious consequences when you fail to tell the government about your foreign financial accounts. Penalties follow you everywhere amounting as much as $100,000 in these cases. It is always advised to file your FBAR or take help of trusted firm like USATS in filing it.

USATS provides numerous services for US Citizens. Visit the site here.

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Flexibility for Tax Debts

Covid-19 disrupted the world with a storm and left numerous challenges and difficulties for business across the world. Small Businesses, Individual Freelancers and Consultants are finding it hard to pay the Tex Debts with business growth challenges ahead. Internal Revenue Service understands that this year has brought tough times for Tax Payers and Income Tax filing has been severely impacted.

 IRS came up with reforms and flexibility in Tax Debts payment in two phases. The IRS Commissioner Chuck Rettig said that “The IRS understands that many taxpayers face challenges, and we’re working hard to help people facing issues paying their tax bills, Following up on our People First Initiative earlier this year, this next phase of our efforts will help with further taxpayer relief efforts.

 In the second part of the year 2020, IRS started People First Initiative under which several tax debt individuals and businesses were benefitted with different schemes. Online Tax Filing was made easier with less number of questions asked. Let’s go through the crucial points announced by the IRS for easy income tax efiling.

  ●       Instead of having 4 months for solving the Tax Debts or Liabilities, IRS has dedicated to extending the timeline to 6 months for those Taxpayers who quality for short-term payment plan option.

●       If you are unable to meet the payment terms due to COVID-19 affected businesses, the IRS is providing flexibility for a temporary duration.

●       For those businesses who are now out of running and not operable, IRS will add new tax balances to existing instalment agreement. This is also applicable for Individuals with Tax Debts. Traditionally, the agreements defaulted automatically that could have worsened the situations for people.

●       If you are one of those qualified individual taxpayers with the debt of less than $250,000, then you have the freedom of not providing a financial statement or substantiation for IRS. Instead of this, you can set up an instalment agreement with the IRS with a proposal to pay off the debt in a certain duration. Given that the amount of debt is less than $250,000, these individual taxpayers can set up an instalment agreement with the IRS without a tax lien notice filed by the IRS.

 USA Tax Preparation Services is the best online tax service helping individuals and businesses increase tax refund with an expert team of USA Tax Consultant.

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ONLINE TAX FILING SERVICES

Partner with USA’s best tax preparation service provider for all of your online tax filing problems and Save your hard earned money.

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Easier & More Affordable Ways to File Taxes with The USA Tax Services

Filing the Tax return is one of the frustrating moment of the year for most of the people. With so many rules depending on so many other factors, it is very obvious that Income Tax Filing can become tougher at some days. Are you also one of those who get confused in W2 Form of 1099 Form? Then, you are not alone. There are millions of US citizens who ponder a lot over the same and finally take a decision. Yes, they decide to take help of the USA Tax Consultant to get out of legal troubles. People are moving towards online tax filing services for better comfort and less hustle in this task. There are lot many ways to reduce the efforts and save dollars while income tax e-filing. Let’s discuss the best of them.

 1.   Use a Software to File Taxes

Softwares are well made with years of experience to simplify your experience of filing the taxes and saving from IRS audit. USATS is one of the best online tax service provider that has helped millions of business persons, individuals and companies to save huge on their hard-earned savings.

 2.   Get a Tax Consultant

The most popular way to increase tax refund is to take help of an experienced person that knows the law better than you. Legal rules change almost every new year and no person has enough time to track them all except a dedicated USA Tax Consultant. So, why not to leverage the expertise? It saves your precious times and ultimately a lot of money.

 3.   Use softwares to manage documents and receipts

Majority of people fall in issues because they don’t keep track of their transactions over the year. And, its tough to track them all. But with help of digital asset, it has become easier to manage the important documents that ease the process of filing the tax return online. There are many available mobile apps which are entirely dedicated to storing your documents and manage transactional details with complete privacy and security.

 4.   Charge all transactions with the same card

Well, this not only helps in keeping the details of all transactions in one place but gives you a chance to earn a cashback also. Yes, American Express cards are one of those which gives you cashback on your total if it passes a certain fixed amount.

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TAX PREPARATION & ONLINE TAX EFILING

Go through the online tax filing service with the most trusted and dependable USA tax preparation service provider. Save your money with USATS today. Call now (800) 260-5197. Website - https://www.theusataxservices.com

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The USA Tax Services |Tax preparation Services

The USA Tax Services  provide strategic tax filing for your personal income and your business, as well as payroll services to small businesses. Personal. Tax management.

Website-  https://www.theusataxservices.com

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The USA Tax Services -   Tax Preparation Services

Our aim is to make US taxes for expats affordable and hassle free.  Whether its filing an annual tax return , resolving IRS notices, we take the worry out of tax compliance for US expats. file your us taxes online today so you can focus on what's really important to you. 

Book Appointment - https://www.theusataxservices.com

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At USA Tax Services, we’re different. We don’t just record history. We help you write it, with a complete lineup of court-tested, IRS-approved concepts and strategies to give you the savings you really want.