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Topic: Taxes for noobs - Help  (Read 373 times)

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Taxes for noobs - Help
« on: April 19, 2019, 07:46:48 PM »
 I need some help guys.  Is there some type of guide or tax help that someone can help me with?

I’ve been approved for my spouse visa and I’ve been living in the UK since like the 3rd of April. 

Can someone explain to me what exact tax forms I need to fill out and when they’re due?

I typically used TurboTax but now I’m guessing things are going to be a little too complicated for TurboTax like some form I heard about called the FBAR...

Can someone just walk me through all the forms I need, when they’re due, what’s the overall process for making sure I’m doing everything correctly and not being taxed twice, etc?

Thanks everyone.
~Priority Settlement Spouse Visa~
Priority: Yes
Online application submitted: 17 Feb 2019
Biometrics & docs mailed: 21 Feb 2019
Documents received in NY: 22 Feb 2019
Documents received by Sheffield on: 25 Feb 2019
Decision Made Email: 18 March 2019
APPROVED!!: 20 March 2019
Arrived in the U.K.: 03 April 2019


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Re: Taxes for noobs - Help
« Reply #1 on: April 20, 2019, 08:08:03 AM »
First of all, the FBAR (FinCen 114) is NOT a tax form. See: https://www.fincen.gov/resources/filing-information
You file this form electronically, and you only need to do so if the aggregate value of foreign (non-US) financial accounts over which you have a financial interest or signature authority (typically current accounts/savings accounts and similar for most of us) at any point during the calendar year exceeds $10,000.

Lots of folks here use TurboTax, and unless you have a very complicated tax situation, you likely can as well.

You said you have been in the UK since April 3 - 2018? 2019? If this year (2019), you file a US return for 2018 just like any other year. When did you get married? What nationality is your spouse? If you married in 2018,  and your spouse has never lived in the US and has no US source income, then you will file married filing separate unless you want to expose your spouse's income to US tax.

If you provide a bit more information for guidance, and others will come along and provide help.
Married December 1992 (my 'old flame' whom I first met in the mid-70s)
1st move to UK - 1993 (Letter of Consent granted at British Embassy in Washington DC)
ILR - 1994 (1 year later - no fee way back then!)
Back to US in 2000
Returned to UK July 2011 (Spousal Visa/KOL endorsement)
ILR - September 2011
Application for naturalization submitted July 2014
Approval received 15-10-14; ceremony scheduled for 10 November!
Passport arrived 25 November 2014. Finally done!


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Re: Taxes for noobs - Help
« Reply #2 on: April 20, 2019, 04:49:16 PM »
Here is the link for the FinCin 114

https://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html

I simply save the .pdf and update the max value each year, then save the file as the current year. Once you've inputted the pertinent information and providing you're not one for opening/closing accounts regularly, this is the simplest of forms to complete and submit. You'll receive and email confirmation of submission and again for acceptance. Save this as evidence for a minimum of 5 years.


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Re: Taxes for noobs - Help
« Reply #3 on: April 21, 2019, 09:07:28 AM »
@vadio Does the 10000 value count towards assets like a house and car as well?

I’ve been in the UK since April 2019 so not very long.  Got married Jan 2019.  Spouse is British and never lived in USA.  So whenever I file taxes now I should for married but filing separate? 

We’re interested in getting a mortgage for a house as well.  Do you think TurboTax could cover my situation or would I need to hire an accountant?

So basically I just need to fill out the FBAR, and file my taxes married but separate via TurboTax and that’s it? Is there any other forms or anything I have to do?
~Priority Settlement Spouse Visa~
Priority: Yes
Online application submitted: 17 Feb 2019
Biometrics & docs mailed: 21 Feb 2019
Documents received in NY: 22 Feb 2019
Documents received by Sheffield on: 25 Feb 2019
Decision Made Email: 18 March 2019
APPROVED!!: 20 March 2019
Arrived in the U.K.: 03 April 2019


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  • Location: Congleton, Cheshire
Re: Taxes for noobs - Help
« Reply #4 on: April 22, 2019, 09:29:53 AM »
If you read the information in the link I provided, you will see the definition of a "financial account", and no, assets such as a car or house are not included.

In general, going forward, you will be better off filing MFS. That means only your income is reported, not that of your spouse. After meeting the requirements, you can either exclude your earned income or use FTC to offset US tax due (if any) by taking a credit for UK tax paid (or accrued). Your worldwide income is always reported on the US return. since you did not marry until January 2019, for 2018, your status is still single, not MFS.

Buying a house is not a taxable event. There are other considerations that may result in tax implications in years to come, which you should consider when you buy,. but no, an accountant is not required to file a tax return when you own a house. Many of us do.

There are lots of IRS publications that you should read and try to understand, one being Publication 54. https://www.irs.gov/pub/irs-pdf/p54.pdf
The more research you do, the better prepared you will be when you file for 2019. That may seem a long time away, but there are things you can do to prepare for the dreaded filing that you can't avoid.
Married December 1992 (my 'old flame' whom I first met in the mid-70s)
1st move to UK - 1993 (Letter of Consent granted at British Embassy in Washington DC)
ILR - 1994 (1 year later - no fee way back then!)
Back to US in 2000
Returned to UK July 2011 (Spousal Visa/KOL endorsement)
ILR - September 2011
Application for naturalization submitted July 2014
Approval received 15-10-14; ceremony scheduled for 10 November!
Passport arrived 25 November 2014. Finally done!


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Re: Taxes for noobs - Help
« Reply #5 on: April 22, 2019, 03:49:33 PM »
Here is the link for the FinCin 114

https://bsaefiling.fincen.treas.gov/NoRegFBARFiler.html

I simply save the .pdf and update the max value each year, then save the file as the current year. Once you've inputted the pertinent information and providing you're not one for opening/closing accounts regularly, this is the simplest of forms to complete and submit. You'll receive and email confirmation of submission and again for acceptance. Save this as evidence for a minimum of 5 years.

Unfortunately that doesn't work any more. If you try it you will get an error message and it will not be accepted. Don't ask me why!!
This message on the BSA website does warn us - bottom of the first page: https://bsaefiling.fincen.treas.gov/docs/ImportantNoticetoFBARE-Filers-ReportofForeignBankandFinancialAccounts.pdf


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Re: Taxes for noobs - Help
« Reply #6 on: April 22, 2019, 03:52:05 PM »
Unfortunately that doesn't work any more. If you try it you will get an error message and it will not be accepted. Don't ask me why!!
This message on the BSA website does warn us - bottom of the first page: https://bsaefiling.fincen.treas.gov/docs/ImportantNoticetoFBARE-Filers-ReportofForeignBankandFinancialAccounts.pdf

It worked for me, my wife and my son a couple of weeks ago as I hadn't seen this.  What I did each time was first make a copy, rename it then unsign it and change the filing year.
Dual USC/UKC living in the UK since May 2016


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