Tax Returns Made Easy with Locus Tax Expat Services Online

1. Tax Returns Made Easy with Locus Tax Expat Services Online As a U.S. citizen who is an expat, you could be forgiven for wishing that the IRS would give you special consideration and completely absolve you from paying taxes! After all, you are not staying in the country and are most probably paying taxes in your country of residence or work, so why would you have to pay taxes all over again to the U.S. Government? This is wishful thinking which will most probably remain a pipe dream for generations of American expats. The IRS is as eagle-eyed on expats as they are on American citizens living on American soil, so it is in your best interests to pay your taxes within the April 15th deadline without delay! Today, online tax filing services make this all the more easier for expats to do in the convenience and comfort of their country of residence or work. There are a lot of things to know when you file tax returns some of which can help you save considerable amounts of money in the long run. Here are a few such useful tidbits for expats: - You have to pay taxes to the U.S. government irrespective of which country in the world you reside in. - If you don’t pay taxes by the due date of April 15th, you will be charged interest for it starting from the same day. - There are exclusions for foreign earned income. This is based on a certain amount of your income which is adjusted on an annual basis for inflation and it is best to contact your tax attorney to discuss this.

2. - There is also a clause called Exclusion of Meals and Lodging which is provided by your employer. You would have to contact a tax attorney to know more. - Entrepreneurs or self-employed people also have exclusions for foreign earned income up to a certain amount. They can also claim a deduction on foreign housing. As you can see, figuring out how much tax to pay, whether you are eligible for any exclusions, etc., is a complicated process. This is where tax return services run by qualified CPAs or tax attorneys can help expats. With specialized and updated knowledge in the field, these professionals make it their business to know all there is to know about expat taxes, so that you don’t have to do your homework. All you have to do is log onto a trusted expat tax services website and discuss your situation with the in-house team of tax attorneys and CPAs. They will be able to see things which perhaps even you have missed, thus saving you considerable money in the long run. By entrusting your tax filing into the trusted hands of online tax experts, you are ensuring that you file your taxes accurately and in a timely fashion. You also ensure that your money is protected and doesn’t go down the drain. You will also be better able to take advantage of the various exclusions you may be eligible for.