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US tax filing requirements for Americans living abroad

07 September 2021 • US Tax returns

Americans living and working in the UK, under the complex citizenship-based US tax system, must file income taxreturns as well as report their foreign bank accounts.  US-tax-720.jpg

September is now upon us so the six-month extended filing deadline is fast approaching.  “Ideally anyone liable to pay tax in America should start the process early,” notes Damian Talbot, himself a qualified Enrolled Agent and head of the US specialist tax team at Fulham based, Warrener Stewart. 

Many overseas US tax filers are unable to file their income tax returns prior to the April and June deadlines due to added complexities to their returns.  The IRS recognise this and allow individuals to apply for an extension by 15 June each year to extend their deadline to file to 15 October.  

Warrener Stewart now has facilities that allow most clients to be eligible for E Filing, thereby avoiding posting the returns. The IRS currently has a backlog in dealing with postal returns - estimated to be over 35 million returns! 

“We can process and sign IRS returns from our offices in Fulham,” confirms Damian. “We not only employ qualified Enrolled Agents, but also a CPA.  This allows us to handle all types of complexities that arise on behalf of clients.” 

“The most important consideration for anyone with a US tax liability is to seek help from a qualified dual tax advisor - leaving or ignoring deadlines has implications. At Warrener Stewart, as both UK and US tax advisors, we can assist both individuals and companies in remaining compliant.” 

With the 15 October deadline fast approaching it is strongly advised that US tax filers get in touch as soon as possible to allow adequate time to gather the required information and prepare the required filings.  

“Warrener Stewart understands our business; they give us more than any other Accountancy service we have ever received in the past. They are extremely commercially aware and very current when it comes to changes in tax policy. ”
Diana Hoare - Anderson Hoare