Services
What we do
#1
Tax Preparation Services
US Individual and Business Returns:
We provide Individual and business tax preparation and planning. Our services include e-filing of US Federal and State tax returns for faster submissions. We are admitted to practice before the IRS and understand the latest tax statutes.
Included in our Federal Package:
- All standard forms: Forms 1040 (US Resident), 1040 NR (US Non-Resident), 1116 (Foreign tax credit), 2555 (Foreign earned income)
- All standard schedules: Schedules A, Schedule B, Schedule C, Schedule D, and Schedule E, Schedule K-1s, bank transactions and brokerage transactions.
ItsyBitsyTax offers:
- Expertise. Our IRS Enrolled Agent works directly on your Federal and State tax returns. Our team specializes in US & expat tax preparation for NRI’s and US Citizens abroad.
- Security. Our client’s data is highly secured — we use the highest encryption security technology for our client’s data.
- Seamless Tax Prep. We make it easy to work with us. We share documents online, communicate via email/Zoom/Phone/Webex
- Support. Year-round Tax assistance, advice and services are available.
- Sincerity. Our customers love working with us because we’re easy to work with and explain taxes to you in everyday language.
A small business tax return is needed for any business that is considered a separate entity (such as a Partnership, Corporation, S Corporation or Limited Liability Company (LLC).
Our Business Tax Return Package includes All relevant forms, including (but not limited to): Forms 1065, 1120 and 1120-S.
#2
Foreign Account Compliance Tax
Expertise in helping US expats using the Streamlined Filing Procedures to the IRS to be complaint. Foreign Account Tax Compliance Act Reporting for US Expats FATCA (Foreign Account Tax Compliance Act) Forms must be completed by US expats residing outside the US if specified foreign assets exceed the following thresholds:
Single filing:
- $200,000 on the last day of the year
- Or $300,000 at any point during the year
Married filing jointly:
- $400,000 on the last day of the year
- Or $600,000 at any point during the year
Specified foreign assets include:
- Any financial account maintained by a foreign financial institution
- Other foreign financial assets held for investment that are not in an account maintained by a US or foreign financial
institution, namely:
- Stock or securities issued by someone other than a US person
- Any interest in a foreign entity
- Any financial instrument or contract that has as an issuer or counterparty that is other than a US person
Specified foreign assets would include your foreign bank accounts, but not assets such as your home.
