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Important Tax Dates on 2021
Important Tax Dates on 2021 2021 AEAT & Banco de España IRS & FinCEN HM Revenue & Customs Kingdom of Spain U.S.A. United Kingdom January, 15 Due date for Estimated Tax Form 1040-E 4th 2020 January, 20 Statistical Department of the Bank of Spain Form ETE:...
Model 720: what it is and how to fill it up.
What is Model 720? Modelo 720 is an annual report that was approved on October 29, 2012 as a modification of the tax and budgetary regulations and adaptation of the financial regulations for the intensification of actions in the prevention and fight against fraud. It...
The Beckham Law option for just arrived foreigners in Spain or the 24% flat tax rate.
General considerations before you qualify. An individual is considered tax resident in Spain when either the person remains in the Spanish territory for more than 183 days during a natural year; or has in Spain, either directly or indirectly, the main centre or the...
What you need to know about 2021 US Taxes for Expats
All U.S. Citizen you are required to file a U.S. Individual Tax Return every year, wherever in the world they live, reporting your worldwide income, even if you pay taxes in Spain. You must file the Form 1040 (Federal Income Tax), if your gross income is at least $5...
Claiming the recovery rebate credit on 1040 2020 Individual Tax Return
If you were eligible for the economic impact payment (EIP 1) and the second round at the end of December 2020 (EIP 2), known as the “Stimulus checks” but did not receive any of those or were eligible for a larger payment than you received, may be able to claim a...
Foreign assets or transactions: 720, ETE and D-6
Statements of foreign assets or transactions for residents in Spain We have in Spain three different compulsory reports of foreign assets or transactions abroad: the Modelo 720 of the Spanish Tax Agency, the modelo ETE from the Bank of Spain, and the D-6 of the...
Due dates of 2021 Fiscal obligations for US Citizens living in Spain.
The 4 fiscal obligations for expats in Spain. All U.S. Citizen you are required to file a U.S. Individual Tax Return every year, wherever in the world they live, reporting your worldwide income, even if you pay taxes in Spain. You must file (1) the Form 1040...
NEW TRACKING MODEL SYSTEM. KNOWING ANY TIME, THE PREPARATION STATUS OF YOUR RETURN.
In order to offer a better service, U.S. Tax Consultants has developed an information system that allows our clients to know in which phase of the preparation process your return is. A process that consists of eight different phases and of which the client will be...
Treasury and IRS will begin delivering second round of Economic Impact Payments to millions of Americans on January 4, 2021
The Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments on January 4th, as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the...
‘It’s Unacceptable,’ IRS Still Processing Millions Of 2019 Tax Returns
BOSTON (CBS) — With the uncertainty surrounding the coronavirus, Keith Wortzman would love to have his 2019 tax refund of several thousand dollars in the bank. “Any refund helps. They actually say it’s not a refund, it’s money that you overpaid,” he told WBZ-TV. But...
“Accidental Americans” in Europe against FATCA and its reporting.
The Association of Accidental Americans (AAA) has filed two legal complaints simultaneously in Belgium and Luxemburg to demand the “immediate halt to the transfer of European citizens’ personal data to the United States”. The claims relate to the countries’ adherence...
Spanish Taxes for expats and Accountancy Services
Spanish & International Tax and Accountancy Services since 1956, U.S. Tax Consultants has guided expats residents in Spain with their taxes and all other fiscal issues. We annually prepare Spanish Tax Returns, Modelo 720, quarterly report for autonomos and...
ITIN and its application process
TIN and its application process. All nonresident aliens require an ITIN to file an U.S. Individual Income Tax Return. An IRS individual taxpayer identification number (ITIN) is for U.S. federal tax purposes only. If you are a U.S. Citizen, you must use your SSN...
Six Need-To-Know 2020 Tax issues for expats.
We have selected that six need-to-know tax issues for expats to bear in mind before preparing their US Tax Returns: Mutual Funds, US bank account, CTC, tax preparation, Streamline Procedure and how to pay the IRS 1. “Fondos de Inversión” outside the U.S. All US...
Looking for Sustainability in US Tax Consultants
With a responsible use of paper, recycle, reduce electricity, sustainable suppliers and office plants… We are looking for sustainability. Looking for sustainability, U.S. Tax Consultants have lots of reasons to implement sustainable practices in our workplace, not...
Stimulus Check: The IRS might owe 9 million people a catch-up payment
If you're still waiting for your first stimulus payment, there are several ways to hunt it down. As many as 9 million people were eligible for a first check but didn't receive the payment because they needed to register with the IRS -- an extra step most people didn't...
AMERICAN WEEK – US Election Debate for expats
The University San Pablo CEU (Alumni) and the American Club of Madrid have organized an American week which includes an Election Debate: Republican vs Democrats on Oct 28 AMERICAN WEEK- OPENING CEREMONY OCTOBER 28, 2020 Zoom Link:...
IRS extends Economic Impact Payment registration deadline for non-filers to Nov. 21
The deadline to register for an Economic Impact Payment using the Non-Filers tool is extended to November 21, 2020. The IRS urges people who don't typically file a tax return – and haven't received an Economic Impact Payment – to register as quickly as possible using...
Find out if you have missing money or any unclaimed property
Every year states receive lost and unclaimed money, property or other assets, and the National Association of Unclaimed Property Administrators – NAUPA helps them find the rightful owners. It costs nothing to search, it's FREE. Conduct your free search for bank...
Measures we have taken to face the COVID-19 pandemic
As one of the stakeholders of the economy, US Tax Consultants has assumed its social responsibility to guarantee the safety and proper organization of all its employees and the clients who visit us. At this time, due to the various strategic and operational risks that...
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