Common sense of tax payment for new immigrants in the United States

When you set foot on American land and get a green card in the form of investment immigration, you become the tax object of American tax law. However, many new immigrants often feel in a hurry in the first year because they don't understand the tax filing mechanism in the United States, and miss the time limit for tax filing. This will leave a criminal record in the IRS, which will affect future declaration. Generally speaking, 65438+1 October1April 15 is the tax season in the United States. During this period, it is necessary to declare the tax revenue of the previous year to the IRS and pay taxes. The correct way is to estimate your tax amount before April 15 and report it together with the 4868 form. When filing tax returns before April 10, the real tax amount will be calculated, and the overpayment will be made and the interest will be calculated.

However, the IRS does not calculate the interest on overpayment of tax rebates. It can be seen that we should all try our best to declare the income tax of the previous year on time before April 15. If you really need an extension, you should also ask a professional accountant to help you estimate the tax amount, so as to be foolproof.

Then, when you come to the United States for the first year, accountants often don't know your basic information. How should you prepare? It is suggested that you collect your income data and expenditure data comprehensively in the tax season, and bring your basic information (such as address, birthday, work card number, etc.). ) to the accountant.

Establishing a complete tax return record is beneficial to new immigrants. When applying for citizenship in the future, the tax return information in the United States is also one of the audit bases that immigration officials attach importance to. So, what are the tax return requirements and benefits for green card holders working overseas? Before new immigrants file their tax returns for the first time, it is best to know the details of tax returns from accountants in advance. If you need to apply for immigration for your relatives in the future, you'd better consult a lawyer at the same time to master the necessary tax return plan for the financial guarantee for your relatives to apply for immigration.

During the new immigration to the United States, even if there is no salary or low income, you still have to file tax returns, and you can even enjoy the benefits of low-income families when filing tax returns. The low-income tax return certificate can also be used as the basis for their children to apply for federal or university of California scholarships. If the tax of the current year has been declared in the original residence before immigration, you can use the tax form 1 1 16 to deduct the income tax paid by the original residence, but not the income tax of the original residence.

As for many immigrants with green cards, they apply for green cards for a long time. However, those who have not settled in the United States for a long time can also make retrospective tax returns in the United States according to the income of American residents working overseas and establish tax return materials. Experts also specially remind applicants that if a taxpayer becomes a green card holder at any time in the tax filing year, it will be deemed that the taxpayer has settled in the United States since this year, and non-resident foreigners are not allowed to file tax returns. Therefore, even if a taxpayer works or lives overseas in the United States, he must declare and pay taxes to the IRS in the same way as foreigners.

Although the United States is taxed globally, there is no double taxation. Part of the income has been paid in another country, and the paid tax can be directly deducted from the taxable amount in the income tax table. The income of American residents working abroad, less than $87,600, is tax-free and can be declared on the 2550 tax form. In addition, although many new immigrants didn't have a job at first, they have bought a house, bought a real estate and paid a lot of housing loans, which often attracts the attention of the IRS. It is suggested that before new immigrants enter the United States, it is best to ask the accountant of the original residence to make a complete visa for financial statements, so as to transfer the property of the original residence to the United States smoothly in the future, or fully explain and prove the source of funds and property when the IRS audits the accounts in the future. At the same time, it is best to transfer the property of the original residence to the United States within two years.

In addition, many new immigrants didn't have a job at first, and they relied on their relatives and friends in their original place of residence to give them living expenses. According to the American tax law, although the living expenses donated by foreign relatives and friends are tax-free, if the living expenses donated by relatives and friends exceed $654.38 million, they will still be declared in the 3520 tax form when filing the annual tax return, so it will not be regarded as income. At the same time, it is best to keep the remittance memo of bank wire transfer as a voucher for the IRS to audit the accounts. New immigrants should make full use of the differences between the income tax systems of China and the United States and avoid American taxes reasonably.