Frequently Asked Questions
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Generally, all Americans with gross income above US$ 12,000 if single (US$ 24,000 married filing jointly) will need to file a U.S. tax return. Even if it wasn’t earned in the U.S., most wages, foreign pension fund contributions from employers, relocation reimbursements, and pension payments are considered income for US tax purposes.
The standard deadline for filing US tax returns is April 15th of each year. However, if you are residing in Switzerland, you likely qualify for an automatic 2-month extension until June 15.
If this time is insufficient, an extension until October 15 may be requested by using IRS Form 4868.
Most filers will use the U.S. Internal Revenue Service (IRS) Form 1040 Individual Income Tax Return. In addition, you likely will use either Form 2555 Foreign Earned Income or Form 1116 Foreign Tax Credit along with muliple supporting Forms.
Please note: most filers with foreign bank and investment accounts will also be required to file FinCEN Form 114 (“FBAR”) with the US Department of the Treasury separate from your IRS filings.
Certainly, and we recommend this if your personal tax situation is undemanding. However, we’re here to help if you find your own tax filing preparation too complicated or stressful.
We specialise in personal U.S. tax returns for regular people with regular situations. Most of our clients are employees of companies or retired from their careers, don’t need expensive expertise from Big 4 or boutique accounting firms, and prefer a personal relationship with a local preparer instead of a cloud-based internet service.
We generally do not prepare U.S. corporate taxes or filings involving off-shore tax shelters, foundations, customized deferred compensation schemes, personal income trusts, or holders of substantial PFIC investments.
We do not directly prepare Swiss tax returns. Many of our clients find the Swiss tax preparation process much less complicated than the U.S. process and prepare their own. However, if you need this service, we partner with a Swiss practice in order to offer you a complete solution. Please contact us for more details.
The cost to prepare your U.S. tax filing will depend upon its complexity and the number and types of IRS Forms needed for the filing. Generally our clients spend CHF 500 to CHF 1,500 plus MwSt for their annual tax return preparation.