The most important fact for Americans living abroad or with foreign assets to know is that there is a 40% chance your return will be examined or audited each year. One fourth of the IRS’s audit campaigns are focused on international returns, so this percentage of examination will get higher. So have your expat tax return prepared by a well-trained professional who is also experienced at defending returns before the IRS. This is Donnelly Tax Law. Clinton Donnelly is an Enrolled Agent licensed by the IRS to represent tax payers worldwide. He is ingenious in the area of defensive return preparation, proactive tax problem resolution, and innovative strategic planning and tax minimization.
Clinton Donnelly is a thought leader in the area of crypto currency tax reporting. He has developed thoughtful tax minimization strategies for digital nomads.
See what nice things our clients said about us.
“Clinton has been handling my taxes for the past 3 or 4 years. He's been a godsend! He provides clear and concise answers, excellent advice and amazing service.... ”
“ He resolved my tax needs quickly and found discrepancies my last tax guys completely missed and saved me thousands of dollars in taxes.... ”
“ Not only did he simplify the process immensely, but he was clear, fast and professional.... ”
“ Mr. Donnelly was extremely professional, answered any questions, and gives exceptional service.... ”
Defensive Tax Return Preparation
Preparing tax returns for Americans abroad or with foreign assets is much more complicated than a domestic return because of the importance of submitting the required foreign information returns. There are incredibly steep fines for not reporting these. These fines start at $10,000 and include up to 50% of the unreported assets. That’s a lot!
Preparing an expat tax return is more expensive than a domestic return because of the importance of getting the return right the first time.
Donnelly tax law has significant experience. We specialize in tax preparation for Americans abroad or with foreign assets. We have done hundreds of foreign corporations, foreign trusts, passive foreign investment corporations, and over 1000 individual returns including FBAR and FATCA returns. Clinton Donnelly is also the author of the 320-page tax book on Amazon entitled “Foreign Earned Income Exclusion: How to Avoid IRS Audits of Form 2555”.
To have us do your return, schedule a 15 minute phone call, using the green button, to review your situation and receive a price quote.
When Donnelly Tax Law prepares your return, we also ask you authorize us to represent your return before the IRS if any correspondence, examinations or audits should occur. An important benefit is that we receive early notice of IRS correspondence often weeks before these letters are received overseas. This allows us to nip any problems in the bud.
Not everyone can afford a full professional return preparation. So we have developed a do it yourself ex-pat tax website that allows you to use TurboTax or TaxAct to do your own expat tax return. This website has videos and worksheets to guide you step-by-step on how to do these information returns economically.
Proactive Tax Problem Solving
Most tax problems begin when you receive a letter from the IRS or other tax authority. As your representative, we notify you immediately of the correspondence and we develop a plan to rapidly address the concern before it gets to goes critical. 70% of our clients first come to us with an unresolved tax problem. We are fully experienced in setting up all IRS programs including IRS installment plans, audits, offers in compromise, injured/innocent spouse defenses and tax amnesty programs. Clinton Donnelly’s law degree and extensive tax law resources enable him to competently represent clients before the authorities.
For Americans living abroad it’s important to have an experienced tax representative because now the IRS can revoke someone’s passport without due process when they feel you owe them over $50,000. This exposes the expats to scary situations at the airport.
We have significant experience with people with years of unfiled tax returns. We have done over 50 tax amnesty programs for non-filers with 100% success rate.
Another type of tax problem are crypto currency investors who need to calculate and pay their capital gains. What they need is an effective strategy to protect themselves against being audited by the IRS. Clinton Donnelly has innovative eight step plan to defensively prepare crypto currency tax returns to minimize IRS audit risks.
Tax Minimization Planning
Strategic tax planning involves looking at all tax liabilities in your business and personal life, mapped against countries and styles of doing business, to capture one’s entire tax exposure. Then we examine tactical strategies for each situation to reduce taxes.
We also provide in-depth tax reports for most countries in the world to help you understand the breadth and depth of the tax laws as they affect the countries you live and do business in. These are invaluable. Written by a IBFD is the world’s foremost authority on cross-border taxation. Tax practitioners from all over the world rely on its high-quality, independent tax research for the past 80 years.
For American digital nomads, crypto currency traders, and self-employed expats we recommend the Consultants Without Borders program to significantly reduce taxes on earned income.
We also offer fourth-quarter tax planning and financial analysis tools to make tactical tax decisions.