Hire US Tax Services Hong Kong to prevent penalties

HIRE US TAX SERVICES HONG KONG TO PREVENT PENALTIES

Visit us:- http://www.htj.tax/

Expats don’t realize that they’re Tax NonCompliant  This is usually the case with many expats as what happens

that when an American move to a financially wealthy country likes Hong Kong, they’re not aware that the US tax filing requirement timely follows them for the rest of their lives unless they renounce their citizenship.  Though their intention is not meant to disobey the IRS prescribed rules and regulations, but howsoever, their act to late filing tax could end up with hefty penalties, interest, fees and to worst revocation of their lifeline for living and earning in abroad i.e passport. What else fate could go against them than taking back the ‘freedom’ to move freely of an expat.

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Filing late US taxes Raise Heavy Penalties

 Even those expats who do not owe Hong Kong US tax, still

need to file timely to remain tax compliant. Filing taxes timely is the only way expats can do to prevent themselves from falling under the category of tax defaulter. Those who fail to meet the timely tax filing requirements have to face failure to file and failure to pay – taxation penalties.  In this case, failure to file penalty may add 5% of your total tax amount and may not exceed 25%. On the other hand, the failure to pay penalty also add 5% to your tax bill monthly and can’t exceed 5% of the total tax an expat owed. Moreover, filing late taxes can result in a penalty of $135 or 100% of the total taxes owed, whichever is smaller.

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Passport Revocation Provisions for Those Expats Filing Taxes Late

 Any expat who owes more than $52,000 to the IRS can list their

name for passport revocation or rendered ineligible for renewal, or may not be eligible to obtain a new passport.  The only possible way to have the passport back or renewed itsettle all the tax debt owed to the IRS along with incurred penalties by having the thorough support of an experienced tax consultant who before deals with such kind of tax challenges.  Therefore, to avoid the nightmare of passport revocation, the safest approach is to hire a tax professional who will timely file taxes on your behalf and protect you from any legal obligations.

Visit us:- http://www.htj.tax/

Contact us  Address:-

1103-5 Allied Kajima Building, 138 Gloucester Road, Wanchai, Hong Kong  Postal code: 518023  Phone : +852 8172 1040