Filing your personal income taxes in today’s global world can be complicated and time-consuming. Income and assets in multiple countries mean juggling multiple sets of tax legislation and dealing with multiple tax agencies.
Personal Income Tax Filing
for Foreigners Living in Russia
1. Russian Federation Tax Filing (see below for US Taxes)
Alinga Consulting Group, experts in Russian taxation and accounting since 1999, helps expats living in Russia file their personal income taxes. Russian taxation is not simple. Contacting a professional to handle your personal income tax filing will save both time and money and minimize your risk of audits and fines.
- If you’re a foreign citizen who received income in both Russia and abroad, be sure to declare the overseas income and the taxes you already paid there.
- If you spent more than 183 days in Russia last year, you owe Russian taxes at 13%; if less than 183 days, you pay 30%.
- Employers, even those based in Russia, do not always take care of the employee’s taxes – and PIT is always the individual’s ultimate responsibility.
- You have until April 30, 2018 to file your Personal Income Tax for 2017.
- For more helpful advice, read this article from Alinga online.
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2. United States Tax Filing
Although it may be tempting, you must not ignore your U.S. taxes. Nearly every U.S. citizen and Green Card holder - regardless of whether they are living in the U.S. or abroad - is generally required to file a U.S. income tax return each year to report their worldwide income. Even some states require that you file a tax return when living abroad. Alinga has partnered with Business Strategy Consultants LLC (BSC) of New York to offer American tax filing services as well.
Important Personal Tax Filing Dates
- April 17, 2018 - Due date for US federal income tax returns (if you are living abroad on 04/17 your return gets an automatic extension until 6/15) and FBARs (you can get an automatic extension until 10/15)
- April 17, 2018 - Due date for payment of any taxes due for 2017 (if you are living abroad on 04/17/18 your tax return gets an automatic extension until 6/15/18 - however, you will have to pay interest on any tax not paid by the regular due date (04/17/18) of your return)
- June 15, 2018 - Due date to file income tax returns for United States citizens or residents whose tax homes and abodes, in a real and substantial sense, are outside the United States and Puerto Rico. Last day to file for an extension.
- October 15, 2018 - Extended due date for Form 1040 and FBARs
- December 17, 2018 - Extended Due Date for Form 1040 with additional extension request submitted
Important Business Tax Filing Dates to Keep in Mind
- Partnership and multi-member Limited Liability Companies 1065 due on March 15, 2018 and extended due date is September 17, 2018.
- Form 1120S – S Corporations due on March 15, 2018 and extended due date is September 17, 2018
- Form 1120 – C Corporations due on April 17, 2018 and extended due date October 15, 2018
Remember About Form 5471!
- The filing requirements for Form 5471 relate to persons who have a certain level of control in certain foreign corporations. Form 5471 is required to be filed in the following situations. Failure to file this form together with your personal or business tax return may result in penalties of up to $250,000 per year.
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New York Office: 646-450-1829
Moscow Office: +7-968-031-9998
Alinga's Got International Reach
As members of Prime Global, a large international accounting association, Alinga can work with the 16000 professionals in 90 countries to find the right solution for you and give you advice on both Russian income tax law and your home county laws.
Our Clients’ Areas of Activity
Trade/Import & Export, investment and finance, construction and real estate, information technology, training and education, service sector, production of consumer goods, public relations, human resources, non-profit organizations.
US-Russia Chamber of Commerce of New England
American Chamber of Commerce in Russia
Association of European Businesses
Russo-British Chamber of Commerce
Moscow Audit Chamber
Business Strategy Consultants LLC is a professional services firm with offices in New York and Miami. BSC provides consulting, tax and accounting services to businesses and individuals. Their team has extensive experience in accounting and auditing, tax audit representation, implementing advanced bookkeeping systems, providing dependable property management services, domestic and foreign taxation of individuals and companies, and real estate transactions. They supplement our expertise by acting as liaison with legal counsel for immigration and trust and estate work. They speak English and Russian.
BSC offers a vast network of professionals in the legal, financial and real estate industries, in the United States as well as in Eastern Europe, France, UK, and India. They are an affiliate of Protax Services, Inc., a multi-family office operating since 1991.