Have you lived in the United States for more than 183 consecutive days? Welcome to the wonderful world of the American tax millefeuille.

If you are employed (e)  of a company, you already have received the Form  W-2  from your employer. This declaration contains the total amount of your taxable income for the previous year,h&r block find my w2 as well as each tax withheld at source. If you are a contractor (an)  independent (e)  and have worked on several contracts during the year, each company must send you Form 1099.

Which form to use? 

Using the information provided in W-2 or 1099, you can now complete Form  1040. This is the main form (but not always the only one) used to declare taxes (“ tax return”  ).

The form asks you in particular to choose your status (married filing a joint declaration, married filing a separate declaration, single, head of household, and widower with dependent child (ren)). It is important to choose your status, as this will affect the total amount of your taxes and deductions.

The process is much the same whether you are an (e) Contractor (e) s independent (e) s, but you must also pay self-employment tax. In both cases, you will need to have your American Social Security number, the “ Social Security Number ”. Alternatively, you can provide a taxpayer identification number.

The deadline for completing and returning Form 1040 is April 15, 2019. Better not to do it at the last moment, because, unlike the French system, there is no pre-filled declaration here.

Taxation at several levels 

With the exception of independent contractors, Americans apply to withhold tax, which means that part of the taxes is already paid. The purpose of the “tax return” is to regularize the taxpayer's situation. “In the United States, the level of taxation depends on the state where you reside. Some states like New York have three taxes: federal, state, and city tax. h&r block find my w2 Conversely, the State of Florida has no local tax ”, explains William Blanchet, chartered accountant for the firm Blanchet CPA.

In principle, you must declare your income from $ 12,000 per year for a single person and $ 24,000 for a married couple. As for independent entrepreneurs, they must declare any income over $ 600 per year. According to Emmanuel Jaeglé, chartered accountant for Jade Fiducial, it is better to complete the “tax return”, even if your income is lower. “Otherwise, you will not be able to receive a refund if you have been charged too much”, explains the expert.

If you paid more tax than you owed during the year with withholding tax, then you will receive a “tax refund”. This sum of money can sometimes be large and will be sent to you by the IRS ( Internal Revenue Service),  the government agency in charge of collecting taxes. You will receive your “tax refund” a few weeks after sending your “tax return”.

Declare all of your assets abroad

The Tax Convention signed between France and the United States on August 31, 1994, makes it possible to avoid double taxation. Therefore, the US tax is very broad. If you have income in France during the year 2018, you must declare it in the United States.

“Many French people don't know that they have to declare everything when they arrive in the United States,” says William Blanchet.  If the person only has bank accounts in the United States, reporting will be straightforward. On the other hand, if it also has property in France, it will be necessary to complete other declarations ”, warns the CPA.

Among the most forgotten forms during declarations: the 5471, for those who own a company abroad, or the 3520 if you have received a donation of more than 100,000 dollars from a person not residing in the United States. (this form will not make you pay more tax). If you own real estate abroad, you will also need to complete form 8938. Do not forget to declare your accounts abroad using the FBAR form available online and very quickly to complete.

If you cannot complete your declaration before April 15, it is possible to request an extension until October 15, 2019, by sending form 4868. This does not allow you to delay a possible payment, but simply not to have a fine for “late filing”. “You have to make a rough estimate to pay the tax even if you have not completed the tax return form”, explains Emmanuel Jaeglé.