If you’re a Dominican citizen residing in the U.S., you may face dual tax and residency concerns. Here’s a streamlined tax/financial guide—and how our services can help with U.S. tax preparation, bookkeeping, and representation.
1. Understanding U.S. Tax Obligations
You may need to file Form 1040 if you meet income thresholds—even as a non-U.S. resident :contentReference[oaicite:3]{index=3}. Learn more via our Tax Preparation Services.
2. FEIE vs. Foreign Tax Credit
Expats may use FEIE (via Form 2555) or claim a credit for foreign taxes paid :contentReference[oaicite:4]{index=4}. We model both to determine the best fit—see our Personal Tax Services.
3. FBAR & FATCA Reporting
Foreign accounts over $10,000 require FBAR (FinCEN 114), and FATCA (Form 8938) may apply too :contentReference[oaicite:5]{index=5}. We handle both with accuracy via our Bookkeeping & Recordkeeping.
4. Residency & Dual-Tax Obligations
The DR taxes residents on Dominican-sourced income and potentially foreign income after three years :contentReference[oaicite:6]{index=6}. Our Consulting Services evaluate how living arrangements impact liabilities.
5. Reconciliation & Audit Support
If IRS notices arise or you miss filings, our IRS Representation Services help with compliance and negotiated resolutions.
Frequently Asked Questions (FAQs)
Do I owe U.S. tax if I live in the DR?
Yes—U.S. citizens must file on worldwide income. Depending on tax treaties, FEIE or FTC may reduce that liability.
What if I didn’t file FBAR in past years?
Late FBARs can be filed without penalties under certain relief programs. Our team can guide your specific situation.
How can you help manage my U.S.–DR finances?
We support both bookkeeping and U.S. tax filing—keeping your records streamlined and compliant.
Need U.S./DR Tax & Accounting Support?
Henriquez Accounting & Tax Services offers U.S. tax filing, bookkeeping, expatriate planning, and audit representation for Dominican citizens in the U.S.
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