At TFX we've been doing taxes for U.S. expats for over 25 years
Expat taxes are complicated. Seriously.
Every precaution recommended by the IRS & more
Clear, transparent process. Thorough & well-thought-out
IRS Restructuring & Reform Act of 1998 protects taxpayers
Trusted by tens of thousands of clients worldwide
Which should you hire and why?
We stand by our work — year in, year out.
If you have years of experience with expat tax, get in touch!
Live webinar with Q&A — join & ask questions!
Easy process with an expert tax preparer
No matter where you reside — you must file US tax returns
No matter where you reside — you must file US tax returns
TFX helps Non-US aliens or Green Card holders file returns
Discover the average cost of tax return preparation for you
Get started call with tax preparer
High-level phone consultations with experts
Scary letter from the IRS? TFX can help
Selling stocks? New job? Make educated financial decisions
Easily determine your US tax residency status
New filing requirements for foreign owners of U.S. LLC
To report ownership in Foreign Corporations
Amnesty program for those residing in the states
U.S. tax requirements of non-US e-commerce merchants
Discover the average cost of tax return preparation for you
Form 1040 Federal Tax Return Package
For those with additional income sources beyond the core package.
For those who have not filed and want to become compliant with amnesty from penalties.
At TFX we've been doing taxes for U.S. expats for over 25 years
Expat taxes are complicated. Seriously.
Every precaution recommended by the IRS. And then some
Clear, transparent process. Thorough & well-thought-out
IRS Restructuring & Reform Act of 1998 protects taxpayers
Trusted by tens of thousands of clients worldwide
Which should you hire and why?
We stand by our work — year in, year out.
If you have years of experience with expat tax, get in touch!
If you have years of experience with expat tax, get in touch!
Many imitators, only one TFX. Ask the tough questions
Specific use cases & scenario analysis
Top notch customer service is core to TFX
We are the best at what we do and we’re here to help you
Easy process with an expert tax preparer
No matter where you reside — you must file US tax returns
No matter where you reside — you must file US tax returns
TFX helps Non-US aliens or Green Card holders file returns
Discover the average cost of tax return preparation for you
Get started call with tax preparer
High-level phone consultations with experts
Scary letter from the IRS? TFX can help
Selling stocks? New job? Make educated financial decisions
Easily determine your US tax residency status
New filing requirements for foreign owners of U.S. LLC
To report ownership in Foreign Corporations
Amnesty program for those residing in the states
U.S. tax requirements of non-US e-commerce merchants
Discover the average cost of tax return preparation for you
Form 1040 Federal Tax Return Package
For those with additional income sources beyond the core package.
For those who have not filed and want to become compliant with amnesty from penalties.
A U.S. person or entity who makes a transfer of property to a foreign corporation may be required to file this form, as set forth in tax code section 6038B(a)(1)(A) or 367(d). Generally, the form is required for transfers of property in exchange for stock in the foreign corporation, but there are an assortment of tax code sections (listed below) that may require the filing of this form.
This 1.5 page form requires the name, address and tax ID of the person or entity making the transfer, the name and tax ID of the controlling shareholder and a description of the property transferred to the foreign corporation.
With the tax return of the transferor for the year of the transfer.
With the IRS office where the person's or entity's tax return is filed.
The IRS estimate for the average time required to prepare this form is 4 hours and 22 minutes plus the time required to study the applicable instructions, tax code sections and regulations.
The penalty for a failure to file this form is 10% of the fair market value of the property transferred, up to a maximum of $100,000. The penalty may be waived by the IRS due to a showing of reasonable cause by the taxpayer.
Pertinent tax code sections include 318, 331, 352, 354, 356, 361, 367, 368, 936, 958B, 6038B.
In earlier years, Form 926 was also used to disclose transfers of property to a foreign partnership but that information is now provided on Form 8865. Transfers to a foreign trust or estate are now disclosed on Form 3520.
This information is not intended to represent an authoratative and detailed discussion of the Form 1040 filing requirements, which are only available in the applicable U.S. tax code and IRS regulations.