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#ustaxes

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Public
Simon Misiewicz

Do I Need to File U.S. Taxes if I Live in the UK? 🇬🇧🇺🇸

✅ Yes! U.S. citizens & green card holders must file a U.S. tax return, even if they live abroad.
✅ Claim the Foreign Earned Income Exclusion (FEIE) or Foreign Tax Credit (FTC) to reduce tax.
✅ The U.S.-UK tax treaty helps prevent double taxation.

💬 Need expert tax advice? Book a call today!

#USTaxes #ExpatsInUK #DoubleTaxation #TaxPlanning #WealthManagement

📘 Free Expat Tax Planning eBook:
zurl.co/2fEc4

Public
Simon Misiewicz

Do You Meet the U.S. Substantial Presence Test for Tax Residency? 🇺🇸💰

Send too many days in the U.S., you might legally be a US tax resident

✅ 183-Day Rule – The IRS counts days over 3 years to determine if you qualify.
✅ Tax Obligations – U.S. tax residency means worldwide income is taxable.
✅ Exceptions Apply – Some visas & closer connection exceptions can help.

#USTaxes #Expats #SubstantialPresenceTest #USResidency #TaxPlanning

Free Expat Tax Planning eBook: zurl.co/ICkgb

Public
mark 🇮🇪 🇪🇺

Yes. I did wait to the last possible moment to file my US taxes. Why? I haven’t a clue. It’s what I do. Must love the stress.

Anyway for US Expats, last year and this I used expatfile and I’m pleased to give them money to make it easy. I’m sure there may be better software but this worked for me. #USTaxes #Expat #ExpatLife oh, before you ask, yes I have to file US Taxes eventually through I don’t live there. Luckily I don’t make that much so I don’t have to pay (they would deduct my Irish taxes anyway) but it’s an efn bother and expense.

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ahimsa

More quotes:

"This tax season, more than 140,000 taxpayers in 12 eligible states made use of Direct File — which allows users to submit simple tax returns directly to the government."

"Senate Finance Committee chair Ron Wyden (D-Ore.) called the expansion 'tremendous news for taxpayers all over the country who are tired of getting ripped off by the big tax prep companies …' "

#GiftLink = wapo.st/3KmYkNR

2/2

The idea of filing taxes directly to the government, rather than through commercial software or a paid tax preparer, has been floated for decades; the practice is routine in dozens of countries, including Australia, South Korea and much of Europe. In 2022, Congress instructed the IRS to study the feasibility of a free tax-filing site, allocating $15 million for a study. The IRS came back with a study and an announcement: It was building a website in time for the 2024 tax season.
#USPol#USTaxes#IRS
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ahimsa

From The Washington Post:

"IRS Direct File is here to stay. All 50 states are invited.

The Biden administration hopes to eventually make the free tax filing site an option for most Americans."

#GiftLink = wapo.st/3KmYkNR

"Republicans have criticized it as a costly and unnecessary government alternative to private-sector offerings… "

But of course they did 🙄

1/2

The Washington Post · IRS Direct File is here to stay. All 50 states are invited.By Julie Zauzmer Weil
#USPol#USTaxes#IRS
Public
Thomas Connor

In other great news, #DirectFile continues on, with all 50+1 states invited to join next year!
home.treasury.gov/news/press-r
#USTaxes

U.S. Department of the TreasuryU.S. Department of the Treasury, IRS Announce Direct File as Permanent Free Tax Filing Option, All 50 States and D.C. Invited to Join in Filing Season 2025New Free Tool Made Possible by Resources from President Biden’s Inflation Reduction ActWASHINGTON—Today, the U.S. Department of the Treasury and Internal Revenue Service (IRS) announced that Direct File will be a permanent, free tax filing option and invited all 50 states and the District of Columbia to join in Filing Season 2025. This announcement follows a successful Pilot Program that saw 140,000 taxpayers claim more than $90 million in refunds and save an estimated $5.6 million in filing costs. Direct File was made possible by resources from President Biden’s Inflation Reduction Act to invest in the IRS and deliver world-class service to American taxpayers that saves them time and money. The Treasury Department’s goal in the coming years is to expand the reach and tax scope of Direct File to provide an option for working-and middle-class taxpayers nationwide. “President Biden is committed to saving Americans time and money and ensuring families receive the tax benefits they’re owed. Providing a free tool to all Americans who want the option to file directly with the IRS is key to achieving those goals,” said U.S. Secretary of the Treasury Janet L. Yellen. “After a successful pilot, we are making Direct File permanent and inviting all 50 states to offer this free filing option to their residents. The Treasury Department and IRS look forward to working with states to expand Direct File for Americans across the country.”Direct File is central to the Biden-Harris Administration’s efforts to deliver modern, world-class customer service using Inflation Reduction Act resources. Direct File also advances a goal of the IRS’s Strategic Operation Plan (SOP) to ensure that taxpayers receive tax credits that they are eligible for, like the Child Tax Credit and Earned Income Tax Credit. The IRS will continue to improve the product over time and ensure that it remains free, secure, and easy to use.Background on the Direct File Pilot ProgramThe average American spends $270 and 13 hours filing their taxes. (Taxpayer Burden Survey) President Biden’s Inflation Reduction Act required the IRS to study the potential for an IRS-run Direct e-File System that would allow taxpayers to file taxes for free, directly with the IRS. After reviewing the report, which showed strong taxpayer interest in a free IRS filing option, the Treasury Department initiated a pilot of IRS Direct File during the 2024 Filing Season.In Filing Season 2024, Direct File was available to taxpayers with simple tax situations in 12 states. The Pilot exceeded expectations with more than 140,000 Americans successfully filing in the five weeks the program was widely available following extensive product testing. These filers claimed more than $90 million in refunds and saved an estimated $5.6 million in tax preparation fees on their federal returns alone.Direct File users also reported a high degree of satisfaction and quick answers to their filing questions. In a GSA Touchpoints survey of more than 11,000 Direct File users, 90 percent of respondents ranked their experience with Direct File as “Excellent” or “Above Average.” A majority of survey respondents who filed taxes in the prior year reported having to pay to prepare their taxes last year. Among survey respondents, 47 percent of users paid to file their taxes last year and 16 percent did not file last year at all. In Treasury and IRS engagements with Direct File users, taxpayers relayed that Direct File was straightforward to use, and they valued features that allowed them to learn more about different tax situations, credits, and deductions. Taxpayers emphasized their appreciation for the fact that Direct File is always free and there are no hidden fees or attempts to upsell users as they moved through the filing process. Taxpayers also shared that filing directly with the IRS gave them confidence and that they were able to quickly fix mistakes and get their taxes filed accurately.   After engaging directly with users to hear about their experience, reviewing results from a GSA touchpoints survey, and analyzing additional data, IRS Commissioner Danny Werfel recommended to Secretary Yellen to make Direct File permanent. He cited overwhelming satisfaction from users, improved ease of tax filing, and lower costs for taxpayers among the reasons for his recommendation, which Secretary Yellen has accepted.###
Public
Aaron Longchamps

I should do my (US) taxes at some point. If you have used a CPA instead of H&R Block / TurboTax, what has your experience / cost been like?

H&R Block was $300 last year if memory serves me right and that was entirely online and asynchronous. There's nothing super complicated about my taxes so I'd rather not spend as much if I can avoid it.

#taxes#ustaxes#cpa
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Mx. Luna Corbden

I mean, UBI is cool and all, but it would be nice if we could even start with "Hey, a certain level of income shouldn't be taxed, whether or not it's for a business, because it's just barely enough to cover living which is a thing you need to do to run the business." It's like reverse UBI.

#USTaxes#USPol
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Mx. Luna Corbden

Starting on my tax prep.

Given my understanding of how expenses work for small businesses, and the reasoning behind why they're deductible, I don't understand why the expenses of living aren't the expenses of working or profiting, from a tax perspective.

I need my computer to write. I need these books for my research. I need gas to travel to network and sell books. They're not "profit" & thus are deductible.

I need food to write, too. I need a house to write in and shelter the books I sell. I need vitamins to think clearly. Etc. So why isn't all that tax deductible? It sure isn't "profit." That is money that vanishes all the same to keep me able to run my business. I'm still just breaking even in life, but US Gov doesn't seem to think so.

I get that the idea of the "standard deductible" is supposed to cover all that, but honestly it doesn't, especially when it comes to self-employment. I owe self-emp taxes regardless of if I break even or how near I am to poverty. #USTaxes #USpol

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