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Topic: Help with First Year Taxes  (Read 1736 times)

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Help with First Year Taxes
« on: February 25, 2020, 10:38:41 AM »
Hello!

I am trying to figure out my taxes and am pretty confused, I'd appreciate if anyone could let me know if I'm on the right track. My understanding thus far is:

I moved to the UK in June, so I have not been here long enough to qualify for FEIE. I could apply for Foreign Tax Credit, but as I will have made less than £12,000 in the UK tax year, I won't have to pay any UK taxes and doing this would just be waste of my time this year. So this means I can just use turbo tax and fill everything out like normal? If this is all correct, what do I do about not having healthcare for half of the year?

I appreciate any advice anyone has! This will actually be my first year of ever doing my taxes on my own as I usually have a ton of freelance contracts from different states and it's worth just paying an accountant to do it. However, my accountant is my cousin and he told me I'm on my own this year  [smiley=laugh3.gif]
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Re: Help with First Year Taxes
« Reply #1 on: February 25, 2020, 11:06:34 AM »
You get an automatic extension to June, and can apply for a further one if needed until you qualify for FEIE if you are planning to file under that. I think they removed the health insurance requirements?

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Re: Help with First Year Taxes
« Reply #2 on: February 25, 2020, 01:54:20 PM »
Thank you!

I had read somewhere that you still have to have paid taxes by April even if you apply for the deadline, do you know if that's true? And if so, would the amount my company automatically took out probably be a safe enough bet that I could wait to figure out what I'd actually owe until June?
Married : 2/1/2019
Priority Spouse Online App Submitted : 6/3/2019
Biometrics appointment : 7/3/2019
Documents sent to NY : 7/3/2019
Docs received in Sheffield email : 11/3/2019
Decision made email: 23/5/2019
Visa Decision: 5/6/2019 Yes!!!!!


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Re: Help with First Year Taxes
« Reply #3 on: February 25, 2020, 01:57:21 PM »
You can estimate it by putting the info in now, but I'm unsure on the payment since I've never owed!

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Re: Help with First Year Taxes
« Reply #4 on: February 25, 2020, 02:05:23 PM »
The year my son had to file his first US taxes after returning he had to wait until end of September to use FEIE.  We estimated his US taxes due by doing his taxes using TurboTax but not actually filing until end of September. The return showed that he owed some money to the IRS so he printed off the form to extend taxes until October 15th and mailed it in with a check to cover the taxes he owed.
Dual USC/UKC living in the UK since May 2016


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Re: Help with First Year Taxes
« Reply #5 on: February 26, 2020, 11:53:29 AM »
Thanks so much for the help! I've started TurboTax and it says I should be issued a refund, so I'll just send the extension request by April 15 and wait until I've been here a full year to do the rest of my filing  :)
Married : 2/1/2019
Priority Spouse Online App Submitted : 6/3/2019
Biometrics appointment : 7/3/2019
Documents sent to NY : 7/3/2019
Docs received in Sheffield email : 11/3/2019
Decision made email: 23/5/2019
Visa Decision: 5/6/2019 Yes!!!!!


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Re: Help with First Year Taxes
« Reply #6 on: February 26, 2020, 12:49:58 PM »
Thanks so much for the help! I've started TurboTax and it says I should be issued a refund, so I'll just send the extension request by April 15 and wait until I've been here a full year to do the rest of my filing  :)
It's an automatic extension til June 15, but if you need it extended to October then you send in the form. I was able to efile the form last year.

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Re: Help with First Year Taxes
« Reply #7 on: February 26, 2020, 01:43:11 PM »
Oh yeah, thanks!

I love when the actual solution to something complicated is ignore it for a few months and deal with it then  [smiley=laugh3.gif]
Married : 2/1/2019
Priority Spouse Online App Submitted : 6/3/2019
Biometrics appointment : 7/3/2019
Documents sent to NY : 7/3/2019
Docs received in Sheffield email : 11/3/2019
Decision made email: 23/5/2019
Visa Decision: 5/6/2019 Yes!!!!!


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