Question 25 on I 864..

[fcat 79]

When it says most recent tax year does that mean most recent completed tax year or the current one ?

If its the current one then I'm presuming if we file the I864 after April 15th this year then the answer to question 25 will be entered as below:

2013 (most recent)

2012 (2nd most recent)

2011 (3rd most recent)

We of course will be able to file tax transcripts for 2011 and 2012 and then produce pay slips and letter from employer which will relate to the current tax year which will be 2013?

And if we were to file before April 15th (which i don't think we will be doing) it will be:

2012 (most recent)

2011 (2nd most recent)

2010 (3rd most recent)

With pay slips and letter from employer relating towards 2012 ?

Edited January 27, 2013 by fcat

[Kazulie 132]

Correct.

[fcat 79]

Excellent, thanks

[Kazulie 132]

a

Edited January 27, 2013 by Kazulie

[fcat 79]

Ok, thanks

Edited January 27, 2013 by fcat

[Nich-Nick 3,354]

When it says most recent tax year does that mean most recent completed tax year or the current one ?

If its the current one then I'm presuming if we file the I864 after April 15th this year then the answer to question 25 will be entered as below:

We of course will be able to file tax transcripts for 2011 and 2012 and then produce pay slips and letter from employer which will relate to the current tax year which will be 2013?

The most recent tax year today is Jan 1-Dec 31, 2012. BUT we have until April 15 to prepare/file an income tax return for 2012. SO---

If the I-864 is signed prior to April 15, then 2011 will be accepted as the most recent tax return. Of course if you do your taxes prior to the filing deadline, then you can certainly present 2012 as your most recent tax return as soon as it is completed. A tax transcript from the IRS might not be available immediately after filing, but a photocopy of the tax return and W2s associated with the return can be used as the tax proof.

If the I-864 is signed after April 15, then your most recent tax return has to be 2012.

In question 24, you can report what you make right now, multiplied out to what it will be in a whole year. It does not have to match previous tax return numbers. You back it up with an employer letter or pay stubs.

In question 25, you report numbers exactly as written on your federal tax return. You back that up with a tax return/W2s/1099s or a tax transcript.

[Kazulie 132]

I corrected myself. Sorry, don't know why it just says "a" now. Lol

[fcat 79]

That's great, answers everything i need to know:)

[pushbrk 13,248]

Correct.

Unfortunately, no, that is NOT correct. After 4/15/2013, the most recent tax year will be 2012. You file your 2012 tax return in 2013. For 2012, you include a copy of the complete tax return or a tax return transcript. For "current income" you include pay stub and/or employer letter. Only if self employed will your current income come from line 22 of the most recent tax return. Tax returns are always filed in arrears.

That's great, answers everything i need to know:)

The answer was incorrect.

[fcat 79]

Unfortunately, no, that is NOT correct. After 4/15/2013, the most recent tax year will be 2012. You file your 2012 tax return in 2013. For 2012, you include a copy of the complete tax return or a tax return transcript. For "current income" you include pay stub and/or employer letter. Only if self employed will your current income come from line 22 of the most recent tax return. Tax returns are always filed in arrears.

The answer was incorrect.

Are you saying Nick Nick's answer not correct then ? when i said "That's great, answers everything i need to know:)" in reply to Nick Nick you then said "The answer was incorrect!" From reading nick Nicks posts and replies im pretty sure its correct

Edited January 27, 2013 by fcat

[Kazulie 132]

Unfortunately, no, that is NOT correct. After 4/15/2013, the most recent tax year will be 2012. You file your 2012 tax return in 2013. For 2012, you include a copy of the complete tax return or a tax return transcript. For "current income" you include pay stub and/or employer letter. Only if self employed will your current income come from line 22 of the most recent tax return. Tax returns are always filed in arrears.

Yes, I realized my mistake and corrected myself. Unfortunately, now my post only says "a" ?!?!?! Anyway, I think fcat saw my correction before it disappeared as she replied to it.

[pushbrk 13,248]

Are you saying Nick Nick's answer not correct then ? when i said "That's great, answers everything i need to know:)" in reply to Nick Nick you then said "The answer was incorrect!" From reading nick Nicks posts and replies im pretty sure its correct

Nick Nick's answer is correct and same as mine. The incorrect answer no longer appears.

[fcat 79]

Just a quick question regarding tax transcripts, which is the correct thing to order on the website ? there's a choice of the two below

Tax Return Transcript

A tax return transcript shows most line items from your tax return (Form 1040, 1040A, or 1040EZ) as it was originally filed, including any accompanying forms and schedules. It does not reflect any changes you, your representative, or the IRS made after the return was filed. In many cases, a return transcript will meet the requirements of lending institutions such as those offering mortgages and for applying for student loans.

Tax Account Transcript

A tax account transcript shows any payments and any later adjustments either you or the IRS made after the tax return was filed. This transcript shows basic data, including marital status, type of return filed, adjusted gross income and taxable income.

[Nich-Nick 3,354]

Just a quick question regarding tax transcripts, which is the correct thing to order on the website ? there's a choice of the two below

Tax Return Transcript

A tax return transcript shows most line items from your tax return (Form 1040, 1040A, or 1040EZ) as it was originally filed, including any accompanying forms and schedules. It does not reflect any changes you, your representative, or the IRS made after the return was filed. In many cases, a return transcript will meet the requirements of lending institutions such as those offering mortgages and for applying for student loans.

Tax Account Transcript

A tax account transcript shows any payments and any later adjustments either you or the IRS made after the tax return was filed. This transcript shows basic data, including marital status, type of return filed, adjusted gross income and taxable income.

Tax return

[fcat 79]

Excellent, thnaks