Regius Tax

info@regiustax.com +1 302-482-8292

We offer bespoke and comprehensive tax filing solutions. Our tax consultants understand the domain and will efficiently determine the tax liability which will work in your favour. We assure you of peace of mind and accurate calculation of tax, resulting in increased savings.

Some of our flagship services include:

1. Tax Return Preparation – Federal, State, Local

Navigating the complexities of tax laws at the federal, state, and local levels can be overwhelming. Our comprehensive tax return preparation service ensures that your tax obligations are met accurately and efficiently. We take the time to understand your unique financial situation, ensuring all eligible deductions and credits are applied to minimize your tax liability.

Our team stays up-to-date with the ever-changing tax regulations, providing you with peace of mind that your returns are compliant and filed on time. Whether you're an individual, a small business, or a larger entity, we tailor our approach to meet your specific needs.

We also offer ongoing support throughout the year, helping you with tax planning and answering any questions that may arise. With our professional tax preparation service, you can trust that your tax matters are in expert hands, allowing you to focus on what matters most to you.

2. ITIN Preparation

An Individual Taxpayer Identification Number (ITIN) is a tax identification number issued by the IRS for individuals who are not eligible to obtain a Social Security Number (SSN). The ITIN serves as a critical tool for complying with U.S. tax laws, ensuring that non-residents, resident aliens, dependents, and others can fulfill their tax obligations.

At RegiusTax, we specialize in providing a hassle-free ITIN preparation and renewal process through our experienced team of Certified Acceptance Agents (CAA). Whether you’re applying for the first time, renewing an existing ITIN, or unsure how to leverage it for tax purposes, we’re here to guide you at every step.

What Is an ITIN, and Who Needs It?

An ITIN allows individuals without an SSN to:

File federal tax returns.
Meet U.S. tax reporting requirements.
Claim tax treaty benefits.

You need an ITIN if:

You are a Non-resident alien required to file a U.S. tax return.
You are a Resident alien (based on the substantial presence test) filing a tax return.
You are a dependent or spouse of a U.S. citizen or resident alien.
You are a dependent or spouse of a non-resident alien visa holder.
You are a Non-resident claiming treaty benefits.
You are a Non-resident alien student, teacher, or researcher filing a U.S. tax return or claiming exceptions.

Renewal Deadlines and Requirements

ITINs may expire if they:

Were not used on a federal tax return for three consecutive years.
Have middle digits like 83, 84, 85, 86, or 87, issued before 2013.
Example: (9XX-83-XXXX) will also expire at the end of the year.
Fall in the range 70 to 82, which expired in previous years but can still be renewed.

Note: A tax return is not required with a renewal application.

3. FBAR Reporting

The FBAR is only required if you have a financial interest in one or more overseas accounts and the total value of all financial accounts combined is $10,000 or more during any point during the tax computational year.

Last date to electronically fill the FinCEN Form 114 with the US Treasury Department is April 15th. This date is automatically extended by 2 months for legitimate US citizens staying abroad which changes the deadline for non-resident US citizens to June 15th.

Please note: Specifically there is an additional extension of 2 months which make the absolute deadline as October 15th.

At Regius Tax always we strive to offer
Dependable Services – Our agents are CPA or IRS enrolled and they work with you on a day-to-day basis to ensure smooth communication and professional service
Experts at your service – Our tax consultants are experienced and hence experts in filing FBARs for you.
Security. We use the highest level of data encryption to ensure that your private information is protected at all times.
Easy to work with. We make it easy for you to get your FBAR filings done. You will work with the same accountant to file your FBAR as your tax return.

4. FATCA Reporting

The Foreign Account Tax Compliance Act (FATCA) requires certain taxpayers to file Form 8938 if their specified foreign financial assets exceed specific thresholds. This ensures compliance with U.S. tax laws and transparency in foreign financial holdings.

Who Needs to File FATCA (Form 8938)?

Taxpayers Living in the United States:
- Single Filing:
  - $50,000 on the last day of the year
  - or $75,000 at any point during the year
- Married Filing Jointly:
  - $100,000 on the last day of the year
  - or $150,000 at any point during the year
Taxpayers Living Abroad:
- Single Filing:
  - $200,000 on the last day of the year
  - or $300,000 at any point during the year
- Married Filing Jointly:
  - $400,000 on the last day of the year
  - or $600,000 at any point during the year

What Qualifies as Specified Foreign Assets?

Financial Accounts:
- Any account held with a foreign financial institution
Foreign Financial Assets Held for Investment:
- Stocks or securities issued by non-U.S. entities
- Interests in foreign entities
- Financial instruments or contracts with non-U.S. issuers or counterparties

Important Notes

Filing Form 8938 does not exempt taxpayers from FBAR (Foreign Bank Account Reporting) filing requirements
Accurate reporting ensures compliance with U.S. tax laws, avoiding potential penalties

5. Advanced Tax Planning Services

At Regius Tax, we offer Advanced Tax Planning Services designed to help you minimize your tax liability, optimize your financial strategies, and reduce stress throughout the year. Our team of expert tax planners actively monitors changes in tax laws and regulations across federal and state levels to ensure you're always ahead of potential tax issues.

Why Choose Advanced Tax Planning?

Tax laws are constantly evolving, and the changes that impact your pocket can be significant. Our goal is to help you navigate these changes with confidence. Through a comprehensive analysis of tax regulations, we identify opportunities that can reduce your tax burden, ensuring you don't pay more than you owe.

By engaging in proactive tax planning, you can:

Minimize tax liabilities year-round, rather than scrambling at year-end.
Stay informed about tax-saving opportunities and strategies, avoiding last-minute surprises.
Reduce stress during tax season, knowing that your tax situation is under control.

Services for Individuals

Our tax planners work with you to understand your unique financial situation and help you make decisions that will save you money and simplify your life. We continuously monitor potential deductions, credits, and tax opportunities, ensuring that your tax filings are as efficient as possible.

Year-round monitoring of tax changes that could affect your tax strategy.
Personalized advice on how to reduce taxes based on your specific situation.
Ongoing education to help you make informed decisions about your finances and taxes.

Services for Businesses

For businesses, effective tax planning is an ongoing process. Instead of waiting until the end of the year to find tax-saving strategies, we work closely with your business throughout the year to develop a tax-efficient plan.

Our business-focused tax planning services help you:

Maximize deductions and credits available to your business.
Monitor financial activities to ensure tax savings and compliance.
Plan for long-term wealth creation through tax-efficient business structuring.

Our Approach

At Regius Tax, we offer personalized and bespoke tax solutions. Whether you are an individual or a business, we develop customized strategies tailored to your goals, ensuring that your tax planning is as effective and efficient as possible.

Let us take care of your tax planning needs while you focus on achieving your financial and business goals. With Regius Tax, you can rest easy knowing you have a trusted partner who is working for your financial success every step of the way.

6. Amendment Filing

Amendment filing provides taxpayers with a second chance to correct previous filings or forms. Whether you need to address errors or provide clarifications requested by the IRS, Regius Tax is here to assist you. Our expert tax consultants will analyze the IRS clarifications and file the appropriate response, ensuring your filings are corrected accurately.

Why Amendment Filing is Important

If you discover mistakes in your previous tax return or need to make adjustments, filing an amendment is crucial to stay compliant with the IRS. Common scenarios for amendment filing include errors or oversights that may have affected your tax liability, deductions, or credits.

Our Amendment Filing Services

At Regius Tax, we offer the following amendment filing services to help you correct any errors and ensure your tax filings are accurate:

Reporting additional income that was not previously included in your filing.
Making changes to your deductions, such as "Above the Line Deductions," "Standard Deduction," or "Itemized Deductions."
Changing personal exemptions that were incorrectly reported or omitted.
Claiming additional tax credits that were missed or removing tax credits that were mistakenly claimed.
Recalculating the amount of tax credits if an incorrect amount was claimed.
Reporting additional withholding that was not accounted for in the original return.

Key Form: Form 1040-X

The key form used for amendment filing is Form 1040-X. This form must be filled out when you need to correct any errors on your original tax return. It’s important to keep track of this form for at least three years to review any adjustments processed by the IRS.

Our experienced tax consultants will guide you through the entire amendment filing process, ensuring all necessary changes are made and your tax situation is resolved promptly. Let us help you correct any tax filing mistakes and avoid potential penalties.

7. Payroll Services

As a small business owner or a senior executive in a corporation, your time is valuable. Focusing on core tasks is crucial for the growth of your business, and managing payroll can be time-consuming and complex. Let us handle the payroll responsibilities so that you can dedicate your time to what truly matters.

Our Payroll Services

At Regius Tax, our experienced consultants understand the intricacies of payroll processing. We handle all aspects of payroll management to ensure your employees are paid accurately and on time, while also ensuring compliance with tax regulations.

Time Reporting Management: We manage and track employee time reporting to ensure accuracy in payroll calculations.
Tax Calculation: Our experts calculate the taxes to be deducted at source, ensuring that all local, state, and federal tax requirements are met.
Paychecks and Direct Deposits: We ensure timely processing of paychecks and direct deposits for your employees, making sure they are paid on time without hassle.
Benefits Administration: We assist with managing employee benefits, ensuring that all deductions are accurate and properly processed.
Compliance and Reporting: We ensure compliance with tax laws, and provide regular reports and summaries, so you are always in the loop about your business payroll situation.

Connect with us today to learn how our payroll services can help streamline your operations, improve efficiency, and ensure your employees are always paid accurately and on time.

8. US Corporate Tax Return Filing

Filing taxes is a legal requirement for every business, whether large or small. At Regius Tax, we understand the complexities of corporate tax returns and have dedicated national and international tax consultants to ensure accurate and timely filing.

Our US Corporate Tax Filing Services

We help businesses navigate the complexities of tax regulations and file the appropriate tax returns at the right time, so you can stay compliant with the IRS.

Sole Proprietorship: File Form 1040 along with Schedule C to report income and expenses.
Partnership: File Form 1065 and issue Schedule K-1 to partners, reporting each partner’s share of income, deductions, and credits.
S Corporation: File Form 1120S and issue Schedule K-1 to shareholders, ensuring proper tax treatment of the corporation’s income and deductions.
C Corporation: File Form 1120 to report income, deductions, and calculate the business’s tax liability.

9. Employment Taxes

As a business owner, it’s crucial to stay compliant with employment tax obligations. Every business entity must file quarterly Federal Tax Returns using Form 941 and an annual FUTA tax return using Form 940, in addition to your regular Federal and State tax returns.

Our Employment Tax Filing Services

At Regius Tax, our experienced tax consultants will guide you through the complex requirements of employment taxes, ensuring all forms are prepared and filed error-free. We provide customized packages tailored to various industries and companies of different employee sizes, making employment tax filing straightforward and stress-free.

Quarterly Federal Tax Returns (Form 941): Ensure timely and accurate filing of employee tax withholdings, including Social Security and Medicare taxes.
Annual FUTA Tax Return (Form 940): File the necessary form to report and pay federal unemployment taxes.
Custom Industry Packages: Tailored solutions designed to meet the specific needs of businesses in various industries and sectors.

Connect with us today to learn more about how we can assist with your employment tax filings and help streamline your business’s tax processes.

10. Other Services

W4 Assistance
Extension Filing
Tax representation
Tax Return Evaluation
Tax Estimates
India Income Tax Returns Filing
Company Incorporation
Quarterly/Annual Filing
Bank Account Opening (NRE & NRI)

1. Tax Return Preparation – Federal, State, Local