US Tax Filings Toronto
US Tax Filings Toronto
Understanding the different types of U.S. tax returns can be confusing. Therefore, we have created a simple list to help you. Our firm in Downtown Toronto specializes in assisting with these forms, making the process easier for you.
US Tax Filings Toronto
Individual Tax Returns:
- Form 1040 – U.S. Individual Income Tax Return: The standard federal income tax form used by individuals.
- Form 1040-NR – U.S. Nonresident Alien Income Tax Return: For nonresident aliens who are required to file a federal income tax return.
- Form 1040-X – Amended U.S. Individual Income Tax Return: Used to correct a previously filed Form 1040.
- Form 1040-ES – Estimated Tax for Individuals: For individuals to pay estimated tax on income that isn’t subject to withholding.
- Form 1040-SR – U.S. Tax Return for Seniors: Similar to Form 1040, but designed for taxpayers 65 and older.
US Tax Filings Toronto
Business Tax Returns:
- Form 1120 – U.S. Corporation Income Tax Return: For C corporations to report income, gains, losses, deductions, and credits.
- Form 1120-S – U.S. Income Tax Return for an S Corporation: For S corporations to report income, gains, losses, deductions, and credits.
- Form 1065 – U.S. Return of Partnership Income: For partnerships to report income, deductions, gains, losses, etc.
- Form 1120-F – U.S. Income Tax Return of a Foreign Corporation: For foreign corporations to report income connected with a U.S. trade or business.
- Form 1120-REIT – U.S. Income Tax Return for Real Estate Investment Trusts: For REITs to report income, gains, losses, deductions, and credits.
US Tax Filings Toronto
Employment Tax Returns:
- Form 941 – Employer’s Quarterly Federal Tax Return: For reporting income taxes, social security tax, or Medicare tax withheld from employee’s paychecks and paying the employer’s portion of social security or Medicare tax.
- Form 940 – Employer’s Annual Federal Unemployment (FUTA) Tax Return: For reporting and paying unemployment taxes.
- Form 944 – Employer’s Annual Federal Tax Return: For small employers to report employment taxes.
Estate and Gift Tax Returns:
- Form 706 – United States Estate (and Generation-Skipping Transfer) Tax Return: For reporting estate taxes on the transfer of a decedent’s estate.
- Form 709 – United States Gift (and Generation-Skipping Transfer) Tax Return: For reporting taxable gifts and generation-skipping transfers.
Excise Tax Returns:
- Form 720 – Quarterly Federal Excise Tax Return: For reporting and paying federal excise taxes on specific goods and services.
- Form 2290 – Heavy Highway Vehicle Use Tax Return: For reporting and paying tax on highway motor vehicles weighing 55,000 pounds or more.
Information Returns:
- Form 1099 series – Used for reporting various types of income other than wages, salaries, and tips.
- Form W-2 – Wage and Tax Statement: For employers to report wages paid to employees and the taxes withheld from them.
- Form 1098 series – Used for reporting mortgage interest, tuition payments, and other types of income.
Other Specific Returns:
- Form 3520 – Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts: For U.S. persons to report certain transactions with foreign trusts and receipts of large foreign gifts.
- Form 3520-A – Annual Information Return of Foreign Trust with a U.S. Owner: For foreign trusts with at least one U.S. owner to report trust activities.
Each of these forms has specific requirements and guidelines. If you need assistance with any of these forms, our team of tax professionals in Downtown Toronto is here to help ensure that you meet all your U.S. tax obligations accurately and efficiently.
Please click here for our Personal Tax Return Process.
Downtown Toronto – US Tax Filings Toronto
Downtown Toronto
Toronto Tax Consulting
401 Bay Street Suite 1600
Toronto ON M5H 2Y4
Tel: 416-628-7824 Ext.2
Downtown Toronto
Toronto Tax Consulting
1 Dundas St W Suite 2500
Toronto ON M5G 1Z3
Tel: 647-951-4852 Ext.2
Downtown Toronto
International Tax Advisor Office
161 Bay St. 27th Floor
Toronto ON M5J 2S1
Tel: 1-800-693-5950
Etobicoke, ON
Etobicoke Tax Consulting
3250 Bloor St W Suite 600 East Tower
Etobicoke ON M8X 2X9
Tel: 1-800-717-4162 Ext.2
North York, ON
North York Tax Consulting
4711 Yonge St 10th Floor
Toronto ON M2N 6K8
Tel: 416-628-7824
U.S. Tax Return Service Process
Filing your U.S. tax return can seem complicated. However, our Downtown Toronto firm is here to make it simple for you. Let us guide you through our service process step-by-step. Our detailed approach ensures a smooth tax filing process with maximum ease and no errors.
Understanding Your US Tax Return Preparation Process
When you choose our US Tax Return Preparation Service, we ensure a straightforward process that puts your needs first. Here’s how we make tax season stress-free:
1. Initial Consultation
First, we begin with a detailed consultation. This step allows us to understand your unique tax situation and tailor our services to meet your specific needs. During this meeting, we’ll gather all necessary documents and information.
2. Document Review and Analysis
Next, our expert team meticulously reviews and analyzes all your documents. This thorough examination ensures accuracy and completeness, helping to maximize your potential refunds or minimize liabilities.
3. Preparation and Filing
Once all documents are reviewed, we proceed with preparing your US tax returns. Our experienced tax professionals utilize the latest software and guidelines to prepare your returns accurately and efficiently.
4. Review and Approval
After preparing your returns, we conduct a comprehensive review. This step ensures that all calculations are correct and that no deductions or credits are overlooked. Once reviewed, we seek your approval before filing.
5. Filing and Confirmation
Upon your approval, we electronically file your tax returns with the IRS. We handle all necessary paperwork and submissions, ensuring a smooth and timely filing process. You’ll receive confirmation once your returns are successfully filed.
6. Post-Filing Support
Our commitment doesn’t end with filing. We’re here to answer any questions or concerns you may have after filing your tax returns. Whether it’s about refunds, audits, or future planning, our team remains dedicated to your financial success.
7. Continuous Communication
Throughout the entire process, we maintain open communication. We keep you informed at every step, providing updates and insights to keep you in control of your tax obligations.
Conclusion
Choosing our US Tax Return Preparation Service means choosing reliability, accuracy, and peace of mind. Let us handle the complexities while you focus on what matters most. Contact us today to get started on your tax journey!