Tax Time

It’s TAX time!!! 

It’s time to gather your paperwork and get yourself ready for the 2014 tax filing year.   The tax deadline for U.S.residents is April 15th with non residents returns due by June 15th.  Extensions may be filed however any tax due must be paid by the filing deadline to avoid penalties being applied.

Owners of rental property with U.S. based loans should look out for Form 1098 which issued during January – the information may also be available online.

If you receive rental income from your management company or agent then you will be issued with Form 1042-S stating the amount of rental income received on your behalf along with details of any tax withheld.

Remember, the IRS may disregard expenses where tax returns are not filed timely.  Non resident filers may also be impacted at the time of sale when applying for an early release of 10% FIRPTA withholding. at the time of sale of U.S.property.

Questions???  Call 863 424 2309 or email us for assistance info@bardellrealestate.com us for assistance…

IRS SCAMS

Another word of warning to taxpayers.  The IRS does not contact you by email.  Their agents never ask for personal information or payment over the telephone.  If you are unsure, contact the IRS at – report phishing…

Source: Harding & Associates Tax Services, Inc