Federal returns for residents and nonresidents, tax planning and taxes on foreign real estate investment. The area is led by Sergio Rivas, Tax Manager, and every return receives a final review by an Enrolled Agent.
Form 1040 for tax residents, who report worldwide income, and Form 1040-NR for nonresidents, who report only U.S.-source income unless a treaty provides otherwise. We include schedules for self-employment (C), capital gains (D), rentals, royalties and partnerships (E) and itemized deductions (A).
We correct filed returns with Form 1040-X and bring unfiled years up to date.
We organize income, deductions and credits so you pay the right amount and no more: quarterly estimates, withholding and decisions worth making before the year closes. When planning involves the structure of your company or your assets, we work on it together with Padilla Advisory Group.
We apply tax treaties to avoid double taxation, plan before you become a U.S. tax resident and handle the expatriation rules for citizens who renounce and long-term residents who end their residency.
Estate and trust returns, including foreign estates and trusts with U.S.-source income, which file Form 1040-NR.
When a foreign person sells U.S. real estate, the buyer must withhold 15% of the price. We prepare Forms 8288 and 8288-A, request a reduced withholding certificate (Form 8288-B) when it applies and report the gain on the sale to recover any excess withholding.
Foreign account reporting (FBAR, FinCEN 114), Form 8938, Form 5471 for interests in foreign companies and Form 5472 for foreign-owned companies. If past years went unreported, we evaluate the IRS Streamlined filing compliance procedures.
We process the identification number for people who cannot get a Social Security number, verifying the passport at our office as a Certifying Acceptance Agent.
If you received a balance due notice, an audit or a levy, representation is handled by SOLON, our group's tax defense firm.
Go to SOLONIf your income is low and you have a dispute with the IRS, you may qualify for free or low-cost representation at a Low Income Taxpayer Clinic (LITC). See the official clinic list from the Taxpayer Advocate Service. In South Florida, one of them is operated by Federal Tax Defense Foundation, a nonprofit independent of this firm, in whose leadership Victor H. Padilla participates.