Additional items
Additional tax services from ILLION: complete control over your reporting.
Maintaining tax reporting in the USA is a complex process that requires accuracy and compliance with the law. Besides standard tax returns, there are many situations that require additional services: correcting errors, clarifying data, and submitting additional forms to the IRS.
The company ILLION offers a full range of additional services to ensure your tax accounting is transparent, accurate, and beneficial.
What additional services do we provide?
- Correction of the tax return (Amended Tax Return—1040-X)
- If you filed your tax return with errors or missed important deductions, you can submit a corrected 1040-X form.
- We analyze your situation, correct the mistakes, and minimize the risk of IRS penalties.
📌 What is included in the service?
✔ Verification of the original declaration.
✔ Identification of shortcomings and errors.
✔ Data correction and tax recalculation.
✔ Filing an amended return with the IRS.
- Request for Tax Transcripts (IRS Transcript Request)
If you need to verify your income, clarify previously submitted data, or obtain copies of tax returns, we will submit a request to the IRS and provide complete information about your taxes.
📌 Who needs this?
- Individuals applying for loans or mortgages.
- To those who have lost a copy of their declaration.
- For business owners for financial planning.
- Tax assistance for foreigners (ITIN Application—W-7)
If you do not have an SSN but have tax obligations in the USA, you will need an ITIN (Individual Taxpayer Identification Number). We will help you quickly obtain an ITIN without rejections and delays.
📌 What is included in the service?
✔ Filling out and submitting Form W-7.
✔ Consultations on IRS requirements.
✔ Accompaniment for obtaining the number.
- 1099 Forms for Independent Contractors
If you pay independent contractors or freelancers, you are required to report to the IRS using Form 1099-NEC or 1099-MISC. We will fill out and submit the forms for you.
📌 What is included in the service?
✔ Preparation and submission of Form 1099.
✔ Consultations on deadlines and requirements.
✔ Help with process automation.
- Preparation of FBAR (Foreign Bank Account Report) reporting
If you have foreign accounts with a balance of $10,000 or more, you are required to file FBAR (FinCEN Form 114). We will help you avoid penalties for late filing.
📌 What is included in the service?
✔ Preparation and submission of the FBAR report.
✔ Consultations on fines and deadlines.
✔ Data accuracy verification.
Why choose ILLION?
✔Expertise—we work with individuals and businesses across the entire USA.
✔Safety—full compliance with IRS requirements.
✔Transparent pricing—fixed cost with no hidden fees.
✔We work online—services are available to clients from any state.
Submit an application for additional tax services! Optimize your taxes and manage your finances professionally with ILLION!
All winnings are subject to taxation and must be reported on your tax return. The amount of the winnings is included in your income. You should still report the winnings and pay the tax even if you didn’t receive a 1099-G or W-2G form.
Form 1095-A confirms that you purchased insurance through the marketplace. It contains information about the tax credits received. Without it, the IRS will not accept the return and will not calculate the correct refund or amount owed.
The 1095-A form is for insurance through the marketplace, the 1095-B form is from the insurance company, and the 1095-C form is from the employer. Only 1095-A is required for the tax return. The others are for informational purposes.
Taxpayers with an income below the established level, who have a child under 17 years old who is a U.S. citizen or resident with an SSN, can claim. The child must have lived with you for more than six months.
A child under 17 must have a work permit and an SSN issued before filing the return. Only in this case will the IRS recognize him as a qualifying dependent, allowing the parents to claim the Child Tax Credit.
The tax return does not reflect or deduct losses from the sale of personal property, including cars. If you sold for less than you bought, this loss is not considered by the IRS.
Profit from the sale of a car is taxable income. You report it in the “Other Income” section. You need to provide the date of purchase and sale, the amount of profit, and keep documents in case of an audit.
Cryptocurrency is taxed when sold, exchanged, or used to purchase goods or services. The difference between the purchase and sale price is considered profit or loss. The declaration must report this amount as capital income.
If there was a profit, we taxed the stocks upon sale. Profits held for less than 1 year are considered short-term and are taxed at the regular rate, while earnings held for more than 1 year are taxed at a reduced rate. Losses can be used to offset taxes.