800 new IRS agents will be tracking down who is filing and paying their taxes from abroad and who is not.
New York (PRWEB) April 14, 2010
American expatriates have until June 15th to file their Federal US Tax return BUT if they owe the US government money, the government isn’t going to wait.
“There is a hole of about USD 400 billion in the current US budget,” said David McKeegan, founder of Greenback Tax Services. “The Obama administration thinks that offshore tax abuse costs the US Treasury as much as USD 100 billion each year, and the President has authorized an additional USD 128 million for the 2010 IRS budget. Part of this money will be spent on 800 new IRS agents to try to track down who is filing and paying their taxes from abroad and who is not.”
The approximately 5.25 million Americans who live and work abroad are expected to file their tax returns by June 15th. However, if they owe money to the government, interest will be charged from April 15th, the official deadline for federal taxes.
Greenback Tax Services, a global tax firm focused solely on the unique needs of American expatriates, recommends that expats get started on their Federal returns as soon as possible. They offer full preparation of US Federal returns for a flat fee of $299.
About Greenback Tax Services
Greenback Tax Services specializes in US Tax Return preparation for US citizens living abroad. Incorporated in New York, Greenback offers straight-forward, internet-based tax services with transparent fees to clients around the globe. Greenback Tax Services CPA’s have over 30 years experience and are experts in the ins-and-outs of expat returns. Additional information is available at http://www.greenbacktaxservices.com.