Immigrating to the U.S. requires staying informed about the latest practical information for living in the United States. The Worldway Immigration Group Los Angeles Customer Service Center has recently gathered key information regarding U.S. immigration tax filing requirements, which is summarized below for the reference of new immigrants:
Q1: Do I really need to file a federal tax return?
A1:Generally speaking, you are required to file, though there are exceptions. The only exception is if your income is below the personal standard deduction or special exemption threshold, both of which are related to your age and marital status.
Q2: How long does it take to receive a tax refund?
A2: Most people receive their tax refund within 21 days after filing their return.
Q3: Can the Internal Revenue Service (IRS) withhold my tax refund?
A3: Yes, it is possible. There are four situations where the IRS may withhold all or part of your refund: unpaid federal student loans, unpaid child support, unpaid state income taxes, or if you have received excessive government subsidies from federal or state health insurance programs.
Q4: What if I don't have the money to pay the taxes I owe?
A4:First, you must file your tax return regardless. Otherwise, you will face heavy penalties for failing to file.Second, you can negotiate an installment payment plan with the IRS to avoid having to pay the full amount at once.If you owe more than $10,000 in taxes, it is advisable to hire an experienced tax attorney or a Certified Public Accountant (CPA) to handle the matter for you. Even if you owe less than $10,000, you may still need professional tax assistance to navigate the complex procedures.
Q5: What is the tax filing deadline for this year (2016)?
A5: The deadline for this year is Monday, April 18, whereas the usual deadline is Friday, April 15.If you anticipate that you cannot file on time, you can apply for a 6-month extension. However, an extension to file is not an extension to pay; all 2015 tax liabilities must be paid by April 18. If you fail to pay on time, you will not only be charged interest on the unpaid taxes but also face significant penalties.
Q6: Will I be audited?
A6: Probably not. The probability of being audited has been very low in recent years due to budget cuts at the IRS. However, this does not mean your tax return will not be reviewed, especially in cases that appear highly irregular. Therefore,you must ensure that you report all income. The IRS uses an automated matching system to cross-reference documentation records with tax filings, and any discrepancies may trigger an audit or investigation. Additionally,you should also be careful to avoid claiming tax deductions for which you are not eligible.
As a leading institution in the investment immigration industry, Worldway Immigration Group has been dedicated to selecting high-quality projects for high-net-worth clients for 19 years. Worldway also possesses a comprehensive customer service team for post-landing settlement. Currently, Worldway has established a customer service center in Los Angeles. If you have any needs in the U.S. regarding EB-5 investment immigration, post-landing settlement, tax planning, children's education, asset allocation, investment management, or insurance and finance, please feel free to contact our customer service center (001-626-522-6522).
Worldway Immigration Group also regularly provides high-quality services to our clients. Based on client needs, we periodically host seminars on various topics, including U.S. real estate, education, lifestyle, financial investment, medical insurance, tax planning, and social welfare. Worldway is here to support you throughout your immigration journey. Consultation Hotline: 400-138-2929
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