• Switzerland's news in English
EXPAT GUIDE | Presented by Greenback
US tax preparation in Switzerland
Photo: Images Money/Flickr

US tax preparation in Switzerland

The Local · 21 Apr 2015, 11:47

Published: 16 Apr 2015 11:47 GMT+02:00
Updated: 21 Apr 2015 11:47 GMT+02:00

Facebook Twitter Google+ reddit

Company name: Greenback Expat Tax Services

Name of Interviewee: David McKeegan, Co-Founder

Who is Greenback?

Greenback specializes in providing expert expat tax preparation and services for Americans living around the world. My wife, Carrie and I, started the company back in 2008. We were expats ourselves and couldn’t find an affordable, experienced expat tax provider so we decided to create the kind of company we were looking for.  We’ve grown exponentially since our inception and now serve clients in over 140 countries—it’s an exciting time for our company!

Where is Greenback located?

Greenback actually operates with a unique business structure. Our entire team works remotely, without a physical office. Like us, many of our team members are expats themselves!

We wanted to remain location independent since we really enjoy the expat lifestyle, but operating virtually also allows us to find the most experienced accountant and management professionals, no matter where the live. 

What are Greenback’s greatest strengths?

We certainly believe the expertise of our accountant team is the core of this company. Providing accurate returns is critical and we are meticulous in our hiring process. Customer service is another strength. Many clients return to us year after year for our tax expertise, but also because we are genuinely nice people to work with.  That is the ultimate compliment.

Why would a US expat choose to work with an expat tax company instead of preparing their taxes on their own?

Expats can absolutely file on their own if they are comfortable doing so! But the US expat tax filing requirements are complex and ever-changing, which makes it really difficult for expats to accurately file their taxes year-to-year. Understanding the deductions and exclusions that are available to offset US taxes can also be a challenge so it’s helpful to work with someone who knows the ins and outs of expat tax filing.

Do you file foreign bank account reports for your clients?

Yes! We prepare and file both FBAR (Foreign Bank Account Report) and FATCA (Foreign Account Tax Compliance Act) forms. We file the FBAR form (FinCEN 114) electronically with the Department of the Treasury by June 30th each year, while FATCA Form 8938 is filed along with your US Federal Tax Return. (Remember that if you file for an extension on your US return, you get an extension on FATCA, but NOT FBAR—that is always due June 30th.)

How does the tax preparation process work?

We wanted to make it as simple as possible, so everything is done online. Documents are uploaded to a secure online folder and the accountant prepares a draft return in about a week. In most cases, our accountants can even e-file on behalf of their clients.

Story continues below…

What if someone hasn’t filed their US taxes since moving abroad?

This situation is really common, as many expats never knew they needed to file. We can help by filing back taxes, as well as prepare the necessary forms and tax returns if someone chooses to file under one of the IRS amnesty programs for delinquent filers, such as the Streamlined Filing Procedures.

Greenback Expat Tax Services

This text was sponsored by Greenback Expat Tax Services.


For more news from Switzerland, join us on Facebook and Twitter.

The Local (news@thelocal.ch)

Facebook Twitter Google+ reddit

Today's headlines
‘Scary clown’ craze hits streets of Zurich
Photo: Pedro Pardo/AFP

Police in Zurich have warned so-called ‘scary clowns’ that they could face charges, following a number of incidents in the city.

VIDEO: driver chases runaway car on Swiss motorway
Image: Neuchâtel police

Shocking footage shows the moment a man dodged lorries to chase after his runaway car on a Swiss motorway.

Saas-Fee crowdfunds low-cost season ski pass
Saas-Fee is hoping to attract 99,999 season pass holders. Photo: Denis Emery/Photo-genic.ch

Skiers could get their hands on a whole season pass for just 222 francs ($223) in the Swiss resort of Saas Fee this winter – if enough people want one.

Swiss billionaire fined for dodging import tax
Urs Schwarzenbach owns the luxury Dolder Grand hotel in Zurich. Photo: Wilhem Rosenkranz

Urs Schwarzenbach faces a $4 million fine for failing to properly declare some 200 artworks imported into Switzerland.

Muslim woman wins headscarf court battle
Photo: Jack Guez / AFP

A Swiss court has ruled against a company that fired a longtime employee after she began wearing the Muslim headscarf.

Montreux throws hat in Olympic rings
Could Montreux host the 2026 Games? Photo: Ivo Scholz/Swiss Tourism

Montreux is to put itself forward as the host city for the 2026 winter Olympics as part of a potential bid by the cantons of Valais and Vaud.

Geneva car share scheme could help reduce city traffic
Catch a Car is aimed at short hops within a city. Photo: Catch a Car

Catch a Car, already in Basel, launches in Geneva next month.

Swiss women will ‘work for free’ for the rest of year
Female employees in Switzerland earn 19.3 percent less than their male colleagues. File photo: Randy Kashka

Switzerland's gender pay gap means from today, Friday October 21st, women in the country will effectively be working for free for the rest of 2016.

Swiss luxury watches stolen in Paris raid
Police outside the Girard-Perregaux watch store on Thursday. Photo: Bertrand Guay/AFP

The 10 Girard-Perregaux watches are worth half a million euros in total.

Brother-in-law arrested over murder of Swiss teacher
The victim worked in a school in Stabio, near the town of Mendrisio. Photo: Oliver Graf

The primary school teacher was found dead in Ticino earlier this week.

Photo: Richard Juilliard/AFP
Man makes Geneva airport bomb threat ‘for a joke’
Sponsored Article
Last chance to vote absentee in the US elections
Photo: AFP
Solar Impulse team reveals plans for unmanned plane
File photo: Martin Abegglen
Swiss to vote on passport rules for 3rd gen foreigners
Photo: AFP
Swiss wingsuit hotspot Lauterbrunnen won’t impose ban
Photo: Swiss Tourism
Six reasons Switzerland isn’t as boring as you might think
Photo: Swiss Tourism
Report: Switzerland one of world’s best places for girls
Photo: The Local
Thief returns Swiss cow bells worth thousands
File photo: Wikimedia Commons
One in three rapists isn’t locked up: statistics
Photo: activistin.ch
Tampon-tax protest turns Zurich fountains red
Photo: AFP
Geneva police to lift ban on bearded officers
Photo: Marcel Gillieron/AFP
Suicide chef’s restaurant keeps Michelin stars
Photo: Lara de Salis
11 things the Swiss get tired of hearing abroad
Photo:  Ivo Scholz/Swiss-image.ch
Survey: expats in Switzerland have money but few friends
Photo: AFP
Swiss press criticize Bern’s 'capitulation' on immigration
Photo: Jura Trois Lacs tourism
German ex-policeman is Swiss city’s new hermit
Photo: Dmitry A. Mottl
Ticino votes to favour local workers over foreigners
Photo: file
Some deodorants could cause breast cancer: Swiss study
Photo: Royal Savoy
In pictures: Inside the latest Swiss luxury hotel
Photo: AFP
Geneva airport bomb hoaxer faces 90,000-franc bill
Photo: Schaffhausen police
Mother leaves toddler son alone in car to go clubbing
Photo: Fabrice Coffrini/AFP
Swiss populist attacked by knife-wielding pensioner
jobs available