Tax

DCDB Services Tax team offers an array of services applicable to State and Federal Tax. We work with clients on filings, amendments, Foreign Bank Account Reporting, Foreign Account Tax Compliance Act, and Tax ID registration services. See a complete overview of our services within our Tax unit that may be applicable to you.

 

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Federal (USA)

Businesses registered and operating in the USA may be required to file business tax returns. Many businesses can file forms 1120, 1065, and 1040, including related schedules as may be required by IRS rules and regulations.

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State (USA)

Consult a tax expert to determine whether you need to file a state return. In many states, whether you need to file or not will depend on several factors, including residency.

 

Tax Return Amendments

When individuals prepare their own tax returns and filings, often mistakes are easily made. These mistakes can lead to penalties and accumulated interest. Our team assists clients when there is a need to make a tax amendment. Corrected or amended filings may help resolve outstanding issues with reporting requirements and tax liabilities.

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Late Filings

Our expertise in helping US expats extends to the Streamlined Procedures, the Offshore Voluntary Disclosure Program (OVDP).

Clients exercising the Streamlined Filing Procedures are required to provide filed Federal Tax Returns from the past 3 years and FBARs from the past 6 years.

DCDB Services can also assist with preparation for OVDP tax filings. This specific procedure is for those who may be at risk of criminal prosecution for failing to file or report their assets overseas, and those who want to avoid this risk altogether.

Foreign Bank Account Reporting (FBAR)

Foreign Bank Account Reporting may be required if there is financial interest in one or more overseas accounts, and the total value of all financial accounts combined is $10,000 or more during any point of the tax year.

Foreign Account Tax Compliance Act (FATCA) Registration & Compliance

FATCA Form 8938 may be required of US expats residing outside of the country.

Business Tax Returns

Businesses may be required to file a tax return if they are considered a separate entity. Examples of a separate entity include a Partnership, Corporation, S Corporation, or Limited Liability Company (LLC).

IRS Certifying Acceptance Agent

We are a Buenos Aires and Miami based Certified Acceptance Agent (CAA).

We are authorized by IRS to work individuals in order to forward various applications to the IRS for processing.

As a Certified Acceptance Agent we can assist with the following applications to be processed by the IRS;

  • ITIN applications
  • Foreign National Identity certification
  • Review of Form W-7/ITIN application documentation
  • Certificate of Accuracy
  • Supporting Document Verification

As Certified Acceptance Agents DCDB Services is authorized by the IRS to verify supporting documentations such as passports for all ITIN/W-7 applications.

This CAA verification means the applicant does not need to send their original passport to the IRS while ITIN application is being processed.

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Tax ID Registration Services

Taxpayer Identification Numbers (TIN)

A TIN is an identification number employed by the IRS in the administration of tax laws.

These include:

  • Social Security Number (SSN)
  • Employer Identification Number (EIN)
  • Individual Taxpayer Identification Number (ITIN)

If you plan to operate a business in the United States, you may need an EIN.

Domestic and Foreign businesses operating in the United States may need an Employer Identification Number (EIN).

The EIN is also known as a Federal Tax Identification Number for businesses. DCDB Services can help obtain an EIN for your business, which can help your business maintain compliance with Internal Revenue Service (IRS) rules and regulations.

Your business may need to obtain an EIN if it meets any of the criteria below:

  • Your business has employees
  • Your business files tax returns
  • Your business opens a bank account
  • Your business applies for a bank loan, credit card or line of credit
  • You operate your business as a corporation or partnership
  • Your business withholds taxes

Estate Planning, USA Tax Planning

At DCDB Services we work with individuals and families in all areas of Estate and USA tax planning.

Our client base may face complex tax cases stemming from living, working, having family and estate members based internationally. This may amplify the complexity of estate planning. At DCDB Services we continue to work with some of the most challenging client cases and deliver solutions ensuring the burden of estate planning is lessened and client satisfaction is optimized.

U.S. Tax Basics

  • Examining contrasting international tax Laws applicable to clients
  • Tax advice in the areas of citizenship, residency and treaties between two Countries

Estate Planning Strategies

  • Traditional Estate Planning strategies
  • Estate Planning for Families that Include a Non-U.S. Citizen Spouse
  • Non-U.S. persons Investing in the United States