US tax amnesty filing
Posted: Wed Feb 24, 2021 7:45 am
Hi all,
I'm a permanent resident in Japan from the US and haven't filed my taxes back home since living here (I haven't made enough for me to potentially get fined, but I'm aware now I was supposed to file anyway). I've been told I need to backfile 3 years as well as submit 6 years of FBARs.
Does anyone know of a reasonable place that can file for amnesty on my behalf? So far I've been quoted 1200-1450 US for the service. I heard I can also file myself for free, but then am worried that my bank account contents could be fined since I have way over the limit to file the FBAR...I've also heard that people who submitted tax docs last summer still haven't received their returns since Covid supposedly had backed things way up at the IRS.
I also have no investments, recently became a freelancer, but have contracts for work around the world, including one new 2021 contract with an agency based in the states.
I'm a bit confused as to where to start with managing my finances/taxes and such as I've hit so many roadblocks over the years. It hasn't been an issue in the past, but I am likely in the next couple of years reach an income where things get complicated, especially if I start investing. If anyone has a recommendation for a financial planner/coach who could help me or a tax accountant (or any other general advice based on the above) I'd greatly appreciate the recommendations.
TIA.
I'm a permanent resident in Japan from the US and haven't filed my taxes back home since living here (I haven't made enough for me to potentially get fined, but I'm aware now I was supposed to file anyway). I've been told I need to backfile 3 years as well as submit 6 years of FBARs.
Does anyone know of a reasonable place that can file for amnesty on my behalf? So far I've been quoted 1200-1450 US for the service. I heard I can also file myself for free, but then am worried that my bank account contents could be fined since I have way over the limit to file the FBAR...I've also heard that people who submitted tax docs last summer still haven't received their returns since Covid supposedly had backed things way up at the IRS.
I also have no investments, recently became a freelancer, but have contracts for work around the world, including one new 2021 contract with an agency based in the states.
I'm a bit confused as to where to start with managing my finances/taxes and such as I've hit so many roadblocks over the years. It hasn't been an issue in the past, but I am likely in the next couple of years reach an income where things get complicated, especially if I start investing. If anyone has a recommendation for a financial planner/coach who could help me or a tax accountant (or any other general advice based on the above) I'd greatly appreciate the recommendations.
TIA.