Hi all,
I've a question and I really hope that someone can help me: I've been here in US since last september (2006) when we got married, and I got my green card just 3 weeks ago, so at the moment I'm not working, and I have never worked before. My husband has been filling out lately the papers for the taxes, and of course he must also declare somewhere that he is married now.
The very confusing part (to me) is that, since I'm a foreigner, the USA law wants me to declare if back home I have a bank account open. Since I'm not anymore 18 years old, and I've always woked like ( I guess ) most of the people, I have (I guess ) like most of the people a bank account open back home.
My question is: why the F........US government wants to know (this is illegal in my country anyway) how much money the foreign wife/husband has in his/her country, the bank account number and the name of the bank in my country.
This is soooooooooooooooooooooo ridicolous and it pisses me off alot because it doesnt have to do with US as it i is not american money plus it is something soooooooo personal. In my country it's illegal to ask something like that unless the person that entitles the bank account has done something very bad.
So I please ask anybody who went already thorugh all this f......crap and what the/she decided to do. Please I really rely on someone who has done this already, if it happens I declare that I have a bank account open in my country can they from here in USA make me pay some other taxes or do something with my money? In my country we pay already so many f....... taxes in order to have a bank account open.......................
Thanks alot for any reply!!!!!!!!!!!!
Full Version: I need yr advise guys!!!!!
Yes you have to declare any foreign bank accounts and any interest you earn on the balance or tax paid... you have to declare your worldwide income not just money in the US...
Kez
Kez
tks guys for yr replies, my question now is: do the US rules/laws taxes the money of the bank account of the foreign wifes/husbands if the bank account is abroad?
tks if you can reply me!!!!!!
tks if you can reply me!!!!!!
The reason you have to report if you have a back account abroad is to prevent tax evasion. Since their origin, Offshore banks tended to be unfairly portrayed by both media and the home jurisdictions alike, the accusations have ranged from tax evasion to money laundering. Other accusations have centered around criticism of unsafe environments, poor regulation, etc.
QUOTE(daphne2109 @ Feb 21 2007, 11:54 AM) 
tks guys for yr replies, my question now is: do the US rules/laws taxes the money of the bank account of the foreign wifes/husbands if the bank account is abroad?
tks if you can reply me!!!!!!
tks if you can reply me!!!!!!
Yes.
Daphne, I was reading the link that Jen posted, and it appears that no report is required if the value of the account doesn't exceed $10,000. Am I correct?
QUOTE
Do You Have a Foreign Financial Account?
If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR), if
- The person has financial interest in, signature authority or other authority over one or more accounts in a foreign country, and
- The value of the account exceeds $10,000 at any time during the calendar year.
If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR), if
- The person has financial interest in, signature authority or other authority over one or more accounts in a foreign country, and
- The value of the account exceeds $10,000 at any time during the calendar year.
QUOTE(Inlove_tx @ Feb 22 2007, 12:51 AM)
Daphne, I was reading the link that Jen posted, and it appears that no report is required if the value of the account doesn't exceed $10,000. Am I correct?
Oh yeah!!! You are right!!! I didn't even realized it.Tks for making me notice that.
Oh yeah!!! You are right!!! I didn't even realized it.Tks for making me notice that.
QUOTE
Do You Have a Foreign Financial Account?
If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR), if
- The person has financial interest in, signature authority or other authority over one or more accounts in a foreign country, and
- The value of the account exceeds $10,000 at any time during the calendar year.
If you own a foreign bank account, brokerage account, mutual fund, unit trust, or other financial account, then you may be required to report the account yearly to the Internal Revenue Service. Under the Bank Secrecy Act, each United States person must file a Report of Foreign Bank and Financial Accounts (FBAR), if
- The person has financial interest in, signature authority or other authority over one or more accounts in a foreign country, and
- The value of the account exceeds $10,000 at any time during the calendar year.
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