Filing U.S. Taxes
US citizens must report their worldwide income on their federal income tax returns. Living or earning income outside the United States does not relieve a US citizen of the responsibility of filing tax returns. However, US citizens living and/or working abroad may be entitled to various deductions, exclusions, and credits. ACS provides a limited supply of federal tax forms. No state forms are provided. For more information on US tax issues, please consult the Internal Revenue Service, at their web site http://www.irs.gov/help/article/0,,id=120193,00.html or the US Treasury web site at http://www.fms.treas.gov/ or other commercial sites such as http://www.oanda.com/.
The IRS will not be mailing individual or business tax packages for 2012 tax season. The IRS is taking this step due to a substantial increase in the number of American citizens filing electronically, as well as a way to reduce printing costs and environmental impact.
The IRS website www.irs.gov includes information on electronic filing and all federal tax forms and publications.
Please see the list of Tax Advisors in Switzerland under this link.
Internal Revenue Service (IRS)
New Form 8938 for Tax Year 2012The Form 8938 (Statement of Specified Foreign Financial Assets) should be filed by taxpayers with specific types and amounts of foreign financial assets or foreign accounts. It is important for taxpayers to determine whether they are subject to this new requirement because the law imposes significant penalties for failing to comply.
Form 8938, the instructions, regulations implementing this new foreign asset report, and other information to help taxpayers determine if they are required to file Form 8938 is available on the web at http://www.irs.gov/businesses/corporations/article/0,,id=255061,00.html
- The exchange rate for filing your 2012 tax returns is 0.976