US citizens or resident aliens living abroad generally need to file a US tax return. If numbers deceive you or you are not familiar with them, you can take the help of an accountant. If you want to avoid that expense and hassle, you can also take the help of tax software to make things less complicated.
1. TaxAct
This
software is the right option for people seeking feature-rich software at a
reasonable price. It offers three plans that are good for expats with different
tax needs. You can also use this software and file your taxes for free via
their cloud-based program online. This software offers a $100,000 accuracy
guarantee that ensures its calculations are correct.
2.
H&R Block Expat Tax Services
If you are
a self-employed expatriate, you can file Schedule C and Schedule K-1 and two
other commonly required tax forms, 1116 and 2555, on your own with the help of
this software. This software can also file Form 114 (the Report of Foreign Bank
and Financial Accounts) for you for a small fee. It’s completely online and
cloud-based too.
3. MyExpatTaxes
Business
owners favor this software as it offers different plans. All plans include Form
114 filing and basic tax forms. If you need help from a certified tax
professional, you can choose one of the two higher-cost plans. Business owners
with the most complicated taxes prefer this software.
4.
TaxAct IRS Free File Edition
When
seeking a free option, expats can choose this software. It allows you to file
state and federal taxes for free if you meet the IRS qualification. It also offers
access to the most common tax forms most expats need. This software is well-suited
for expats whose adjusted gross income is less than $72,000.
5.
Avalara
With over 30,000
customers in 95 nations, this software is definitely worth consideration. It
provides SaaS solutions for small, midsize, and enterprise organizations. You
can explore scalable solutions to help with sales tax returns, registrations,
and calculations. It is ideal for preparing and filing sales tax returns with
just a few clicks. It also helps you enhance accuracy with regularly updated
address-specific tax rates. Their products are available as a suite or as
stand-alone options so that you can customize them based on your business
needs.
6. EasyTax
Last on this
list but still worthy of your attention, this software allows financial
institutions to calculate report and book taxes for many different
jurisdictions. Their standard software enables banks to produce
country-specific off-shore tax reports to provide their off-shore clients with
a service to ease the burden of their tax filing duties and support private
clients with their tax statement submissions. It also helps investors that
focus on newer asset classes such as crypto.
EasyTax is standard
software that offers high performance. The use of one interface, one system,
and one process reduces operating and maintenance costs. Working with a single
tax reporting platform that includes all tax logics will reduce operating costs.
EasyTax currently offers Off-shore Reporting, On-shore Reporting and EasyTax
simulation suite
Sources:
https://www.thebalance.com/best-tax-software-for-expatriates-3974012
https://www.avalara.com/us/en/index.html
https://www.regnology.net/en/our-solutions/banks-other-financial-institutions/easytax-client-tax-reporting/