ekim

@Adventine @seekingthetruth

Thanks for the input. To add, the insurance policy don't have an investment attached to it. No dividends as well. It is a very old plan that does not exist anymore in new offerings.

Regarding the payout benefit, I was also surprised about it as I don't remember anything about it 20 years ago when I sign up for it. No one died and I never filed any claim ever since and I am not a beneficiary. It was communicated to me by the AIA representative after paying off the premium for 20 years and the amount was calculated after that. They said I am entitled to receive this insurance benefit. Looks like a one time payoff and this is not a surrender cash value. I will try to dig the policy documents but I can't even search the plan online.

I don't have any account in the Philippines and won't be able to visit soon so the only way to claim the benefit is via international wire transfer. I can't authorize someone to claim it. Just trying to figure out the tax implication without spending much hiring a CPA since the amount is small to warrant it.

@Adventine @seekingthetruth Any input on this scenario:

AIA Philam Life insurance policy in the Philippines with surrender cash value of less than $1,000 USD. I believe it is not required to report it to FBAR since it doesn't meet the treshold.

This year, it has a benefit payout of less than $10,000 (no payout in prior years) and the only feasible way to claim the benefit is via wire transfer from Phil AIA/Bank to the US Bank account. I believe this need to be reported in the income tax return but not in FBAR. Am I correct? And do I need to report it in succedding years even though there is no payout?

Thanks.

1 minute ago, Adventine said:

 

It's a taxable event for the BIR (PH Bureau of Internal Revenue) and there's no way around it because the PH bank will deduct DST (documentary stamp tax) automatically when they initiate the wire transfer.

 

FATCA rules require PH banks to report bank accounts held by US citizens and LPRs to the US government. US citizens and residents also have an obligation to report their foreign bank accounts through FBAR. Source here.

 

Typically, US citizens and LPRs are taxed on their worldwide income. Ask a CPA for professional advice on how to properly file taxes on foreign income.

Thanks for the reply.

Is the wire transfer a taxable event? Will the bank report it to the IRS?

13 hours ago, Awalnet said:

I will ask her to amend it to married filing separately for just 2019 then 2020 we both file married filing jointly... Thanks...

I think you can amend both 2018 and 2019 to Married filing jointly. You have 3 years to amend your returns from filing date. This is more beneficial especially if you did not earn any income during these tax periods. Expect to get some refunds from IRS.

What I did before was filed as married filing separately and wrote NRA as mentioned in the previous post. You don't need an ITIN for her right now. Once your spouse is here and have an SSN, you can amend your tax return and most probably you will receive a refund from the exemption.

I was also advised to defer the filing until my wife is here but this will work well as long as you don't owe any money to the state/IRS, otherwise you will pay some interest, etc.

1 hour ago, Illiria said:

Correct me if I am wrong but doesn’t the Philippines fine you if you overstay your visa (like an exit fine) could that be what this payment is about plus a bribe to make her charge against him go away? 

In the Philippines, the accused can settle with the accuser to drop the charges.

35 minutes ago, John & Rose said:

Has anyone EVER heard of an American getting arrested in the Philippines where they allow the American to decide that he will be held at the US Embassy instead of a Philippine jail?  Have you EVER heard that the American while being held at the US Embassy was required to pay a huge sum of money to get the charges dropped (well OK, maybe....).  Too many really weird inconstancies.  

 

I'm thinking American marries filipino and for what ever reason they break up.  He goes back to the states and finds a visiting foreigner and he decides to get married quickly because how would anyone ever know he was married.  Lo and behold, someone finds out he is still married and has to make up some outrageous story to support his "mistake"...

This reminds me of lance corporal Daniel Smith although different case and different situation. They were able to transfer him to the US Embassy and when the victim recanted the testimony he was able to leave the country as if nothing happened. No one know what took place but the victim left for the US within the same month and I believe is now living here. Go figure out.

I use plastic tie wrap to secure the zipper and carry extra just in case airport personnel or custom want to open the luggage before boarding.

23 hours ago, Akphils said:

@Hank_  I adopted my 2 stepsons and planning to get them a US Passport as per advice of DaveE, question, because they’d came here on cr2 visa and now automatic us citizen through adoption, how does their status gonna be change to USCIS? Do we need to report it after getting the US Passport.? Thank you so much. 

You will submit the greencard (physical card) together with other requirements (your proof of citizenship/naturalization certificate, adoption decree, etc) when you apply for your children's passports. I believe they will update USCIS since they got the greencard.

Congrats. By the way, do you have an update on the form you submitted to the DOJ? Did they get back to you?

2 minutes ago, kvito28 said:

Why don't they ask the same exact question during online application? They only ask if you are legally authorized to work in the US. If it was absolutely fine to ask whether an individual is a USC or PR then I think they would ask exactly that. 

Here is an article I found about that question

https://www.eeoc.gov/laws/practices/inquiries_citizenship.cfm

11 minutes ago, Mollie09 said:

 

Yes, they are allowed to ask. It's a field in the I-9.

During the interview? OP was asked that question during the interview.

9 minutes ago, kvito28 said:

I know this I try to not mention anything beyond me being authorized to work in the US. However, I was directly asked if I am a US citizen or a permanent resident... lying to that question is the worst thing one can do. Question still needs to be answered and there is no way around not disclosing my immigration status in this specific case.

I think employers are not allowed to ask about your immigration status, if you are a US citizen or not but they can ask if you are allowed to work.

On 7/6/2018 at 2:31 PM, jg121783 said:

So potentially my step son could become a US citizen before my wife is even eligible? Interesting how that works.

Also check if your employer has an adoption benefit for step-child or foreign adoption. Some employer offer this benefit and it will save you a lot. Basically cover all the expenses including the newspaper ad except probably it is taxable.

I think if you want a catholic church wedding, you need an annulment. Civil wedding is fine. Correct me if I'm wrong

If you are filing in California, you need to follow the law in California. Here in MD, what we did is ask someone to check the last known address of the father and provide a notarized affidavit. We also published an ad in a major newspaper (paid Php 5,000 for small size). If you have a lawyer, he/she can advise you what to do and the content of the ad. Here in MD, the court can also change the name during the adoption process.

You have 3 years to file an amendment return (1040x) from the original filing. The original and amendment returns are two separate process and I believe you will mail the amendment for both Federal and state (not sure if they have online).

Naga City in Bicol or Cebu? I am from Naga in Bicol. If you know her friends, you can ask a favor to buy gifts for her.

Use a circular saw to open the safe.

Is a house deed considered an evidence? We only have 1 joint saving account and wanted to support it with a house deed where both our names appear.

I agree with other posters, networking is important. Build relationship with other IT professionals. Update the linkedin profile. Highlight your role in the most recent work experience and not just the technical skills. You need to show what you can contribute to the company and what makes you better than the rest of the applicant. Some interviewers don't look at your old job descriptions and just focus on the most recent. Tailor the summary of your resume to the job requirements and don't put irrelevant experience. Also don't lie on your resume. I've seen some applicants put bogus work experiences especially those who are using agency. The agency itself is the one asking them to put those bogus work experiences.

Just want to give an update. After completing the 2nd sputum and medical test (Nov 1), St Lukes forwarded the passport to the embassy. The visa is now issued and passport in-transit to home.

I am using RIA to send money to the Philippines. Look for a Filipino store in your area since they have special rates than the RIA offices. If you are sending large amount of money, they need your drivers license number for documentation purposes. They want to avoid money laundering cases.

Just a quick update on this case. In addition to the initial document being asked above, the embassy asked my father in law to get an explanation from NBI of some case due to a hit in the report (similar name). Prior to that, he did undergo TB treatment at Saint Luke for 6 months and was cleared. Now the petitioner got a 221(g) to get a new medical report from St Luke and pickup his passport from US Embassy (window 36). Any idea what is going on here and chances of him getting an immigrant visa? The current CEAC status is AP. Thanks.