Services · Individual Tax

Personal Taxes Filed
Right the First Time.
Every Time.

Whether you are a US resident, a digital nomad, or an expat living abroad — we simplify your personal tax filing, handle complex international disclosures, and ensure every deduction is maximized.

Form 1040 — residents, non-residents, expats
FBAR & FATCA — foreign account compliance
Amended returns, ITIN preparation
Bilingual — English & Russian

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Personal Tax Filing for
Every Situation

From a straightforward W-2 return to a complex expat situation with foreign accounts — handled by the same licensed CPA.

US Residents

W-2 employees, self-employed professionals, investors, rental property owners — every eligible deduction captured.

  • W-2 and 1099 income reporting
  • Schedule C — self-employment income
  • Schedule E — rental and investment income
  • Capital gains and stock sales
  • Retirement contributions and HSA deductions
  • Education credits and child tax credits

US Expats & Digital Nomads

Living abroad doesn't end your US tax obligation. We specialize in expat returns — foreign income exclusions, credits, and all required international disclosures.

  • Foreign Earned Income Exclusion (Form 2555)
  • Foreign Tax Credit (Form 1116)
  • FBAR filing (FinCEN 114)
  • FATCA reporting (Form 8938)
  • Tax treaty position analysis
  • Streamlined filing for late filers

Non-Residents & Immigrants

Newly arrived in the US or earning US-source income from abroad — non-resident returns, dual-status filings, and ITIN applications.

  • Form 1040-NR (non-resident alien return)
  • Dual-status tax year returns
  • First-year residency elections
  • ITIN application — Form W-7 preparation
  • US real estate income reporting
  • Withholding compliance (FIRPTA)

Our Individual Tax
Services

Every service your personal tax situation requires — prepared by the same licensed CPA, under one flat fee.

Personal Income Tax (Form 1040)

Expert preparation of federal tax returns for residents and non-residents — maximizing every eligible deduction and credit. All schedules included.

FBAR & FATCA Compliance

Mandatory reporting of foreign financial accounts and assets to avoid heavy IRS penalties. FinCEN Form 114 and Form 8938 prepared accurately and on time.

Amended Tax Returns (1040-X)

Professional correction of previously filed returns — to claim missed refunds, fix errors, or update information. Up to 3 years back.

Expat & Digital Nomad Tax

Specialized tax services for US citizens living abroad or remote workers with international income — exclusions, credits, treaty positions, all disclosures.

ITIN Application (Form W-7)

For those not eligible for a Social Security Number. We prepare Form W-7 and the return it attaches to, and guide you through the identity verification step, which the IRS requires to be done by an authorized agent or by mail.

Multi-Year Catch-Up Filing

Behind on personal returns? We file multiple years simultaneously, calculate your liability, and apply for penalty abatement where possible.

“

I had been living in Germany for 4 years with no idea I still needed to file US taxes. WELFO filed all four years, handled my FBAR, applied the Foreign Earned Income Exclusion, and got me a refund on two of the returns.

— Sarah M., US Expat, Munich, Germany  · 

Your Return,
Start to Finish*

Eight stages, and you can see every one of them in your client portal.

1
Collect
You
Upload documents to the secure portal, or fill in the short questionnaire.
2
Clarify
You & WELFO
We flag anything missing or unclear and ask you directly.
↺Missing a document? We ask, you upload.
3
Prepare
WELFO
Your return is drafted; deductions and credits are checked.
4
Review
WELFO
A CPA reviews every figure before it reaches you.
5
Sign
You
You approve the return and e-sign the authorization.
6
File
WELFO
We e-file your federal and state returns.
↺Rejected? We fix it and resend.
7
Process
IRS & State
The IRS and your state review and accept the return.
8
Refund
IRS & State
Federal and state refunds are issued to you.
YouWELFOIRS & State

* Illustration of one typical scenario. Stages, order and timing vary with your situation and with IRS and state processing.

FBAR & FATCA:
Don't Risk the Penalties

Filing with foreign assets or income requires a keen eye for detail. We specialize in cross-border tax issues — helping expats and residents navigate the complexities of international disclosure requirements.

FBAR Penalties Start at $10,000

Foreign bank or financial accounts with a combined balance exceeding $10,000 at any point during the year require an FBAR. Failure to file can result in penalties of $10,000 per account, per year. Willful violations can reach $100,000 or 50% of account balance.

Check My FBAR Obligation →

What's the
Difference?

FBAR — FinCEN Form 114

Filed with FinCEN. Required if foreign accounts exceeded $10,000 combined at any point. Deadline: April 15, auto-extended to October 15.

FATCA — IRS Form 8938

Filed with your tax return. Required for higher thresholds ($50,000+ for US residents; $200,000+ for expats). Covers foreign accounts, stocks, and interests in foreign entities.

Both May Apply Simultaneously

Many clients need both. Different thresholds, different filing systems, different penalties. We handle both as part of your annual return.

Streamlined Filing for Late Filers

Missed FBAR or FATCA in prior years? The IRS Streamlined Procedures can significantly reduce penalties for non-willful violations. We guide you through the process.

Foreign Disclosure
Penalty Summary

FBAR · FinCEN 114
Non-willfulUp to $10,000 / year
WillfulUp to $100,000 or 50% of balance
Form 8938 · FATCA
Non-willful$10,000 per form
Willful (continuing)Up to $50,000
Bars are drawn to scale against the largest penalty shown.
ViolationFormNon-Willful PenaltyWillful Penalty
Late FBAR filingFinCEN 114Up to $10,000/yearUp to $100,000 or 50% of balance
Failure to file Form 8938Form 8938$10,000 per formUp to $50,000 continuing
Unreported foreign incomeForm 104020–25% accuracy penalty75% civil fraud penalty
Late FBAR — streamlinedFinCEN 1145% of highest balanceNot eligible

* Penalty amounts may vary by circumstance. Streamlined procedures available for non-willful violations only.

US Citizens Abroad:
Here's What You Owe

The US taxes its citizens on worldwide income regardless of where they live. If you hold a US passport or green card, you have US filing obligations — no matter what country you reside in.

1

Determine Your Exclusions

We calculate your Foreign Earned Income Exclusion (up to $126,500 in 2024) and Housing Exclusion to reduce your US taxable income.

2

Apply Foreign Tax Credits

Taxes paid to your country of residence can often offset your US liability dollar-for-dollar — eliminating double taxation in most cases.

3

File Required Disclosures

FBAR, Form 8938, and any other international disclosure forms filed alongside your 1040 — all deadlines managed proactively.

4

State Returns if Applicable

Some US states require filing even while living abroad. We analyze your domicile situation and handle any required state returns.

Need an ITIN?
We Support Your Application.

An Individual Taxpayer Identification Number is required for anyone with US tax obligations who cannot get a Social Security Number. We prepare your Form W-7 and file it together with the tax return it belongs to. Identity documents must be verified separately — we are not a Certified Acceptance Agent, so that step goes through an IRS Taxpayer Assistance Center, a CAA, or by mailing originals to the IRS. We tell you which route fits your case and exactly what to bring.

Who Needs an ITIN?

  • Non-resident aliens with US-source income
  • Foreign nationals investing in US real estate
  • Spouses or dependents of US citizens abroad
  • Students with taxable US scholarships
  • Individuals not eligible for an SSN

Processing Time

The IRS typically processes ITIN applications in 7–11 weeks during peak season. A complete, correctly assembled application reduces the risk of rejection — the most common cause of delay is missing or improperly certified documents.

Get Help With My ITIN →

Exclusion or Credit:
Two Paths for Expats

Worldwide incomeTaxed by the US on citizens and green card holders abroad
ExclusionForeign Earned Income Exclusion, up to $126,500 in 2024
CreditTaxes paid to your country of residence offset your US liability
Form 1040Plus FBAR and FATCA reporting where required

* Simplified illustration. Which option is better depends on your income, country and tax rates.

Personal Tax Mistakes
Are Expensive

Most individual tax errors don't surface immediately — they show up years later, with compounding interest and penalties.

Common Individual Tax Mistakes

  • Expats not filing at all — “I don't live in the US so I don't owe taxes”
  • FBAR not filed — $10,000 penalty per account discovered years later
  • Self-employment income underreported on Schedule C
  • Foreign Tax Credit not claimed — paying double tax unnecessarily
  • Amended return not filed — leaving a refund unclaimed for years
  • ITIN not obtained — maximum withholding rate (30%) applied

With WELFO Individual Tax Filing

  • All filing obligations identified — US residents and expats fully covered
  • FBAR and FATCA filed on time every year — zero penalty exposure
  • Every deduction and credit captured — Schedule C optimized
  • Foreign Tax Credits applied — double taxation legally avoided
  • Prior-year errors corrected — refunds recovered, penalties reduced
  • ITIN obtained efficiently — correct withholding rates from day one

Individual Tax Questions,
Answered Honestly

I'm a US citizen living abroad. Do I really need to file?
Yes — the US taxes its citizens and green card holders on worldwide income regardless of where they live. Many expats assume living abroad ends their US tax obligation, but it doesn't. The good news: Foreign Tax Credits and the Foreign Earned Income Exclusion often reduce or eliminate the actual tax liability — but you still need to file.
I haven't filed in several years while abroad. What now?
You may qualify for the IRS Streamlined Filing Compliance Procedures, designed exactly for this situation. For non-willful violations, the streamlined offshore procedure imposes a 5% penalty on the highest aggregate balance of unreported accounts — far less than standard FBAR penalties. We prepare all required returns and FBAR filings as part of the submission.
What is the FBAR deadline and what if I missed it?
The FBAR deadline is April 15, with an automatic extension to October 15. Missing the deadline can result in penalties of up to $10,000 per account per year for non-willful violations. If you've missed prior years, the sooner you act the better. We handle late FBAR filings as part of catch-up or streamlined procedures.
I think I made a mistake on my return. Can you fix it?
Yes — we prepare amended returns (Form 1040-X) for up to 3 prior years. Common reasons: missed deductions, unreported income, incorrect filing status, or undisclosed foreign accounts. If the amendment results in a refund, you have 3 years from the original due date to claim it. We review your prior return and identify everything that can be corrected.
Do you offer services in Russian?
Yes — we are fully bilingual in English and Russian. All consultations, explanations, and document review can be conducted entirely in Russian. This is especially valuable for recent immigrants and Russian-speaking expats navigating the US tax system for the first time. You don't need to struggle through complex tax concepts in a second language.
How much does individual tax filing cost?
Flat-fee pricing — you get an exact quote before we start. A straightforward 1040 starts at $290. Schedule C, rental income, and investments are added per item (Schedule C from $100 depending on revenue, rental from $150 per property, stocks from $20 per broker). Expat returns with FBAR and foreign income start at $440. Multi-year catch-up filings are quoted based on years and complexity. Book a free consultation for a specific number.

File Your Personal Taxes
Right the First Time

Accurate returns for every situation — US resident, expat, or digital nomad. Flat-fee quote today.

All situations · All 50 states · Flat-fee · English & Russian