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Topic: Another Tax Question..  (Read 749 times)

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Another Tax Question..
« on: February 01, 2011, 10:48:13 PM »
  So I searched the thread and couldn't quite figure out the answer to my question. Wonder if any of you know what I need to do.

  I worked half the year before I came out on a visitors visa- had a baby (which I haven't had a chance to report to the US embassy so he doesn't have a SSN as of yet) then got married at the tail end of the year.  I don't think I can claim my new baby because he doesn't have a number, and I'm not sure if I should claim married cause it wasn't until Dec that we married.  I didn't work in the UK, but I don't know if I should claim my husbands wages... Ugh It's all very confusing. Any help would be angelic.
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We stole countries with the cunning use of flags. Just sail around the world and stick a flag in. "I claim India for Britain!" They're going "You can't claim us, we live here! Five hundred million of us!" "Do you have a flag …? "What? We don't need a flag, this is our home, you bastards" "No flag, No Country, You can't have one! Those are the rules... that I just made up!...and I'm backing it up with this gun, that was lent to me from the National Rifle Association."

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Re: Another Tax Question..
« Reply #1 on: February 02, 2011, 02:08:13 AM »
Please don't be confused; your situation is not as complicated as you think it is.

You can and you should file as married even if you got married on the 31st of December. The answer to the question whether you should file jointly or separately depends on whether your husband is US citizen/resident or he is not (you did not mention that). If your husband is a non-resident of the United States, your may find this information helpful: https://www.taxesforexpats.com/expat-tax-advice/foreign-spouse.html

Your baby should be claimed by all means. You have plenty of time to contact the embassy and get SSN for your baby. Then, you will claim him as a dependent on your 2010 tax return, get the child credit and possibly other credits as well.

« Last Edit: February 02, 2011, 03:27:31 AM by taxesforexpats »
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Re: Another Tax Question..
« Reply #2 on: February 02, 2011, 01:03:40 PM »
If you received them don't forget to report the health in pregnancy grant and child benefit as income.

If the baby has a child trust fund then don't forget to file US trust returns 3520 and 3520-A as well.
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Re: Another Tax Question..
« Reply #3 on: February 02, 2011, 01:33:47 PM »
Quote from: guya on February 02, 2011, 01:03:40 PM
If you received them don't forget to report the health in pregnancy grant and child benefit as income.

If the baby has a child trust fund then don't forget to file US trust returns 3520 and 3520-A as well.

 Is that the little form that came in the mail stating the Uk had started a savings account for him?
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We stole countries with the cunning use of flags. Just sail around the world and stick a flag in. "I claim India for Britain!" They're going "You can't claim us, we live here! Five hundred million of us!" "Do you have a flag …? "What? We don't need a flag, this is our home, you bastards" "No flag, No Country, You can't have one! Those are the rules... that I just made up!...and I'm backing it up with this gun, that was lent to me from the National Rifle Association."

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Re: Another Tax Question..
« Reply #4 on: February 02, 2011, 05:47:41 PM »
The child trust fund was abolished by the ConDem government for new babies, but kids who are already entitled keep this entitlement.  This may require annual 3520, 3520A and 8621 filing in the US.
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Re: Another Tax Question..
« Reply #5 on: February 26, 2011, 11:05:22 PM »
Do you have to claim the child trust fund if it's over a certain amount or for any amount??  We only got the £50 voucher and that is all that is in the account currently.  We do, however, have 2 other regular savings accounts (one in either country) in the baby's name that have less than £70 in each of them.  Do I need to claim those also?
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Re: Another Tax Question..
« Reply #6 on: February 26, 2011, 11:11:51 PM »
If a 3520 is due the HIRE Act signed by the President on March 18, 2010 changed the minimum penalty to $10,000 per form. 

If an 8621 is additionally due because the investment is a PFIC the HIRE Act signed by the President on March 18, 2010 changed the minimum penalty to $10,000 per form. 

I am not saying these are foreign trusts or PFICs --- just that the penalties for getting things wrong could be quite horrid, so you'll need to decide.

The extension date for the 3520-A (if due) is March 15th..
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