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Topic: V limited income in 2022, should I file with IRS anyway?  (Read 1764 times)

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V limited income in 2022, should I file with IRS anyway?
« on: May 17, 2023, 11:11:23 AM »
2022 was a year with less than $12,500 income from US holdings, no earned income, and less than $10K held in UK bank.  I wonder if I need to file with the IRS anyway, just so there's no "hole" in my record, as I will have to file for 2023, in both countries. Ugh!  What do you think/recommend as the best strategy for this?
Thanks!


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Re: V limited income in 2022, should I file with IRS anyway?
« Reply #1 on: May 17, 2023, 02:42:26 PM »
2022 was a year with less than $12,500 income from US holdings, no earned income, and less than $10K held in UK bank.  I wonder if I need to file with the IRS anyway, just so there's no "hole" in my record, as I will have to file for 2023, in both countries. Ugh!  What do you think/recommend as the best strategy for this?
Thanks!
It depends on how you file. If married filing separately the limit is only $5 so you will have to file.

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Re: V limited income in 2022, should I file with IRS anyway?
« Reply #2 on: May 17, 2023, 03:39:46 PM »
My son lives close by us in the UK and has had zero taxable income this past few years but he files anyway and it did mean that he received all of the Covid stimulus payments. His tax return shows his UK wages, zeroed out by the FEIE for 2555, no US income, and he mailed in a copy of his return to the IRS this last week. He does have more that $10k in UK financial accounts so does file an FBAR online each year.
Dual USC/UKC living in the UK since May 2016


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Re: V limited income in 2022, should I file with IRS anyway?
« Reply #3 on: May 17, 2023, 04:51:02 PM »
I would file as single person. Probably should bite the bullet then.
Thx for your responses!


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Re: V limited income in 2022, should I file with IRS anyway?
« Reply #4 on: May 17, 2023, 06:27:00 PM »
I'd file even if I didn't need to. You've got consistency then going forward. A memo to self for the future that you hadn't forgotten that year!


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