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Reasons of US Expat Tax Penalties in Singapore

Get to know the US Expat Tax penalties in Singapore by the IRS which are failure to file the tax return file, 5% and go up to 25% of unpaid tax, failure to pay USA tax in Singapore, dishonored check to avoid any penalty is to have the assistance of a professional US expat tax preparer. @ http://advancedamericantax.com/<br>

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Reasons of US Expat Tax Penalties in Singapore

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  1. Reasons of US Expat Tax Penalties in Singapore

  2. Failure to file the tax- • If you fail to file your American tax in Singapore and FBAR by the due date without an extension period, you could be hit with failure to file fines. • If you owe USA  tax in Singapore and you fail to file, fines start at 5% and go up to 25% of unpaid tax- and that doesn’t include fines and interest on the owed amount. • However, one thing to note here that there isn’t a significant penalty for filing US expat taxes late if you owe nothing, but you won’t have access to your refund until you file.

  3. Failure to pay USA tax in Singapore- •  If you don’t pay your taxes, then you are subject to ‘failure-to-pay' fines for the non-payment of USA tax in Singapore. As a repercussion, first, you will accrue interest on the unpaid balance until you repay the amount in full. • Second, you’ll be charged the late payment penalty of 0.5% of the overall tax amount you owe for each month it's late, and go up to 25%. The penalty doesn’t stop there- fines for serious US expat tax invaders can result in a freeze of passport and even imprisonment. • Also, there is an imposition of a tax penalty for the underpayment of US taxation in Singapore, so if you submit your taxes even quarterly, make sure you’re paying the right amount.

  4. Dishonored check- • If your US expat tax payment check bounces, rejected or your linked accounts have deficient money, still you will be fined for submitting a dishonored check. • An ideal way to avoid any penalty is to have the assistance of a professional US expat tax preparer to help you gather the essential records and documents to back you up. Therefore, if you want to avoid unnecessary tax penalties concerning the filing of US taxation in Singapore, hiring the right expat tax advisor or preparer is key. Source:- https://www.nyooztrend.com/2021/03/how-serious-is-failure-to-file-your-us.html

  5. Contact Us:- • Address:- #25-00, Samsung Hub, 3 Church St, Singapore 049483 • Telephone No: +65 9720 1040 • Email Us: Help@AdvancedAmericanTax.com • Web: http://www.advancedamericantax.com/

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