Individual Tax Services
- Tax Planning for Indian Citizens living in US 1040 – U.S. Individual Income Tax Return and Information Reporting 3520, 3520A, 5471, 8891, 8938 etc.
- FBAR – Report of Foreign Bank and Financial Accounts
- FATCA Reporting Services
- W-7 Application for Individual Taxpayer Identification Number (ITIN)
- Non Resident Indian repatriation services
- Double taxation Services for US and India/ Tax treaty Review
- Correspondence/Representation with Internal Revenue Services on behalf of individuals
- Form 1040 (U.S. Individual Income Tax Return) (a.k.a. “the long form”)
- Form 1040A (U.S. Individual Income Tax Return) (a.k.a. “the short form”)
- Form 1040EZ (Income Tax Return for Single and Joint Filers With No Dependents)
- Form 1040NR (U.S. Nonresident Alien Income Tax Return)
- Form 1040NR-EZ (U.S. Income Tax Return for Certain Nonresident Aliens With No Dependents)
IRS Tax Form 1040 (U.S. Individual Income Tax Return)
While 1040 may take longer to complete, it benefits taxpayers by giving them more opportunities to lower their tax bills. But before you start to prepare your 1040 tax form, you should first check to see if you qualify to use the simpler 1040A or 1040EZ tax forms. However, it is a safe bet to use IRS Form 1040 if you are unsure whether or not you are eligible to use the 1040A or 1040EZ. The basic rule of thumb is this: When in doubt, file Tax Form 1040.
Form 1040A (U.S. Individual Income Tax Return)
The 1040A Form is available to taxpayers of any age and any filing status, however, you cannot itemize your deductions and the types of tax credits you can claim are limited. If you qualify to use Form 1040A, it will take you less time to prepare (than the longer 1040 tax form) and it will likely be processed faster by the IRS. While most people qualify to use the 1040A tax form, it is not as extensive as its longer counterpart, so it’s a good idea to look over what the 1040 tax form offers first.
Form 1040EZ (Income Tax Return for Single and Joint Filers With No Dependents)
However, depending on your situation, it may be more beneficial for you to use Form 1040 or Form 1040A instead, since those forms allow taxpayers to claim “head of household” status (which typically results in a lower tax than filing as “single”), dependents, and various tax credits, tax deductions, and adjustments to income.
Form 1040NR (U.S. Nonresident Alien Income Tax Return)
You must also use this form if you were a nonresident alien who did not engage in U.S. business but received income from U.S. sources that are reportable on Schedule NEC. Note that United States citizens never have to file Tax Form 1040NR. But if you are a U.S. nonresident alien, this is a tax form that you should become familiar with.