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Topic: Streamline help  (Read 1011 times)

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Streamline help
« on: August 01, 2018, 12:45:11 PM »
Hi,
So I'm finally dealing with the fact that I haven't filed in years.  :(
I was thinking to do the streamline procedure to get back on the books. I want to file as married, filing separately, as my husband is UK citizen.
From what I understand, I have to fill out tax returns for 2017, 2016, and 2015 (what about 2013 and 2014 that I didn't file?), and FBARs for years 2012-2017?

I have never earned over the threshold <£32,000/ year), have no investments to report, and have only held joint accounts with my husband in the UK.

Any advice/ help from people who have gone through this would be great, thanks!
Immigrated July 24th.


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Re: Streamline help
« Reply #1 on: August 03, 2018, 01:11:51 AM »
 For streamlined it's most recent 3 years for which the U.S. tax return due date has passed
That's one of the advantages of Streamlined, they let you come into compliance for those three years and then you go forth in compliance and they stop the clock on the earlier years.  This is how it generally works but you also need to file Fbars ( 6 years back)

The tax reform brought some changes but for the years in question, i believe these are some of the forms you may need

Form 1040
Schedule B
Form 2555 (this is for the FEIE)
Form 8965 (this is the health coverage exemption)
Form 8833 (possibly if you are part of a work pension scheme)
and maybe form 1116 for foreign tax credits

There is a statement that needs to go with the streamlined submission, explaining why you did not file. There is information on the IRS website on the submission process. If no fbars are involved (and no tax owing which seems likely), you could also just back file outside the streamlined.

I am not a tax professional, just someone that has been through the Streamlined filing experience but renounced now.

Don't rush into anything, take time to learn the requirements and you could always continue as you are doing if you have no plans to return to the USA and no ties at all.


« Last Edit: August 03, 2018, 01:21:03 AM by Same Boat »


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Re: Streamline help
« Reply #2 on: August 03, 2018, 07:00:31 AM »
Electing to claim the foreign earned income exclusion by filing Form 2555 rarely produces the optimum result.  You will want to calculate and compare the result with and without this election.


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