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JessCan

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    Filing taxes jointly for the first time

    in Tax & Finances During US Immigration

    Posted

    9 minutes ago, Wuozopo said:

    I don't think there is an FBAR extension.  Just fill it in with the details of your $25k account plus any other accounts you held in Canada during 2018. You have to list all if you exceed $10k, even if others are less that 10k. It's the aggregate of all accounts. For bank accounts it's the,highest value it reached during the year. Even if you since moved all the money out of the bank, if it existed in 2018 put it on FBAR. For 2019, it won't make the list unless it was still in Canada at any time in 2019.

     

    I wouldn't worry so much about missing the deadline. I missed my deadline the first time by a year 😂

    haha ok, thank you for all your help!  I think we are hiring an accountant to do the taxes for us this first time, don't think they will do the FBAR though, but I will give it a try.   My husband tried to the taxes online but we need to get another software, which one do you use?

    Filing taxes jointly for the first time

    in Tax & Finances During US Immigration

    Posted

    3 minutes ago, Wuozopo said:

    FBAR is foreign assets/accounts exceeding $10k anytime during the tax year and is submitted to FinCen online by April 15 (the date was changed from June 30). It's all foreign assets combine being over $10k. 

     

    FATCA (8938) is foreign assets exceeding $100k if married ($50k single). It is an IRS tax form and is part of the tax return when over the threshold.

     

    My "presumed" asset is a foreign pension which counts for FATCA.  I say presumed because I do not have a value of the account, but it's 30 years worth so maybe. It's a general pension scheme and not a defined pot of my specific money. So just to be on the honest side I do FATCA and include it plus two other accounts.

     

    The totally weird thing is the IRS says if you don't have an exact value or can't get one, then put zero as the balance. So on my 8938 ---

    Do you have accounts exceeding $100,000 YES

    Pension 1: $0

    Pension 2: $0

    Bank acct: $xxxxx,xx

    Did you receive payments, interest, or dividends from this account  in 2018? NO

     

    It is only a report of where asset is held- name, address, account number, type of account, value. Just an extra 10 minutes to inform IRS I have foreign pensions sitting in the UK that  MIGHT  be considered as over the $100k threshold. I just decided to do it after ignoring it the first two years. 

     

    Thank you for your reply! Ok I probably won't have to do FATCA, I only have under 25k in my retirement savings plan and i'm not contributing to it anymore.

    We filed for an extension so I wonder if we get an extension for the FBAR too ?  !!

    Filing taxes jointly for the first time

    in Tax & Finances During US Immigration

    Posted

    5 minutes ago, Wuozopo said:

    I don't know anything about a RSSP in Canada but I assume it is an asset and reportable for FBAR. That is not on your tax return, but an online report to FinCen, the US Treasury Dept. Google FBAR. I do it every year. 

    RRSP I think is considered a Foreign Financial Assets.  Yes I will do the FBAR, but also reading about form 8938.  Did you do that one too?

    Filing taxes jointly for the first time

    in Tax & Finances During US Immigration

    Posted

    4 minutes ago, Wuozopo said:

    You probably don't have to do the election since you have a greencard now. Some people that need to get by without it. The IRS doesn't check up on you as much as people fear.

     

    The tax treaty is what allows you to file 2555. You MUST report the following on your US tax return IF YOU FILE JOINTLY:

    • all the money you earned in Canada from Jan to August of 2018 plus
    • all you earned in the US in 2018 (if any) plus
    • your spouse's income.

    Form 2555 is what keeps you from paying US tax on the Canadian money. Otherwise you are going to be paying Canada and the US. Your other option if you did not work in the US at all in 2018 is file nothing and your spouse files as Married Filing Separately. I think you will find that Married Filing JOINTLY will be the best option taxwise even though you have to do the extra form.

    Perfect, thanks!  Things are starting to make sense now...I've done a lot of research and asked many people for help, it can get exhausting.

    My last concern is my RRSP (Registered retirement savings plan), I think I do the FBAR for it and is there another form to report this to IRS?  I only have 20K on it.

     

    Filing taxes jointly for the first time

    in Tax & Finances During US Immigration

    Posted

    On 4/12/2019 at 10:19 AM, Wuozopo said:

     

    You have several topics mixed together so let me help you separate them.

     

    Filing Jointly

    In order to file jointly for 2018, you need to be a resident alien. That means you must have (a) permanent resident status...a greencard OR (b) physical presence in the US for a certain length of time. You have neither for 2018 because you arrived late in the year.

     

    BUT the IRS will allow you to be treated as a resident alien for tax filing purposes because you are married to an American. That means you can do taxes as a resident alien even though USCIS hasn't given you a greencard yet. That allows you to file a joint return. The IRS says you and your spouse must put it in writing if you choose to do this. You both have to sign a written statement saying that's what you choose to do. It is included with your tax return. There is no built in IRS form for this statement, so e-filing won't work. Generally those who have to write a statement, print out their return, add in the statement they wrote/signed, and mail it to the IRS. 

     

    Foreign Earned Income

    Often new immigrant spouses worked part of the year in their home country before moving to the US. If they file a joint return, they have to report every bit of money that was earned anywhere in the world. Many foreign countries have a tax treaty with the US that says you don't have to pay taxes to two countries on the same earnings. The foreign spouse puts her foreign earnings on the joint US tax return , but she can use Form 2555 that allows the foreign earnings  to not have US tax applied to them.

    Hi  Wuozopo! 

     

    We are filing jointly.  I moved to the US September 2018 and worked in Canada from Jan to Aug of that year.  I just got my green card March 2019.  Do I still need to do that letter with the statement?

     

    Also for my foreign earned income, if my country has a tax treaty with the US, do I still need to fill out form 2555?

     

    Thanks!

     

     

    AOS (Approved) before receiving EAD/AP

    in Adjustment of Status (Green Card) from K1 and K3 Family Based Visas

    Posted

    2 minutes ago, Jeb said:

    Congratulations to you on your green card! We are kinda in the same boat. I have my AOS interview with hubby next week. Applied 7 months ago so we are thrilled. Just applied for the AOS in December. I haven’t received EAD card yet either. I’ll have my greencard before it comes. I have lots of documentation on our relationship and marriage to bring. Probably overkill but I would rather have more than less. What kind of questions did they ask you at interview?

    Cool you are in NC too!  Which office do you have to go to? We applied for AOS end of October, we are lucky it moves fast over here.  They only asked me some of the questions on the application to see if my answers matched, like what is my full name, what are my parents full name, where do I live etc, then a bunch of yes and no questions from the application.

    I had a K1 interview in Montreal that asked me about my relationship so I guess this time they just did quick questions.  I was surprised they didn't ask for any of the documents they requested.

    Good luck!

    AOS (Approved) before receiving EAD/AP

    in Adjustment of Status (Green Card) from K1 and K3 Family Based Visas

    Posted

    Hi guys, 

    I had my AOS interview today!  Everything went well, not too much waiting.  They only asked me a few questions from the AOS application that we submitted and that is it...they didn't even need to see any documents that we brought.  The officer said that my EAD/AP was approved today as well.  Since I got my AOS approved same day as EAD/AP do they get cancelled or do you think they will still send them to me with my SSN?  So not sure if I should just wait to get the cards or apply again for SSN...I asked the officer but he wasn't too sure about it.

    Thanks!

     

    November 2018 AOS Filers

    in Adjustment of Status Case Filing and Progress Reports

    Posted

    6 minutes ago, RambaCat said:

    If you get your GC I think you might have to go into the SSA office yourself to apply for your SSN because the request for one was only on the EAD application form, but I'm not 100% on that.

    When is your interview? If it is soon you might be okay, if it is a month away then it might be a little risky, I don't know the consequences for late filing or how long it takes for your SSN to come through once you have received your GC.

     

    You may already know but with an ITIN you have to send off your Passport or other important official documents (or get copies certified by a Tax agent - highly recommend it rather than sending the originals off), and it can take 60 business days for them to send the documents back to you (you file ITIN at the same time as your tax return so don't worry too much about the sixty days).

     

    It's all speculation on my end though; I have no SSN either so will have to go the ITIN route; there's no way I'll have my GC interview in time, even if the status changes today.

    Thanks!  oww that sucks to apply again for SSN...interview is March 13th.  Don't think the EAD will arrive before that...hmmm

     

    K Visa Medical Exam - what to bring

    in Canada

    Posted

    Update!  So when I got there they only asked for 1 passport picture, passport and vaccination checklist that's it.  Waited 30-45 minutes (I was early) saw Dr. for like 1 minute then he just told me I need to get chest x-ray, blood work done and give urine sample.  It was really busy at the x-ray so the receptionist told me to check in at the x-ray first then go to the lab across the street.  Got things done faster that way as the lab was empty and when I got to x-ray I didn't have to wait anymore.  Results are done in 2 days and  I have to go pick them up now.  

    K Visa Medical Exam - what to bring

    in Canada

    Posted

    Sorry, I have another question...I don't know how I missed the part to register!  I thought they meant register for the interview appointment, which I did.. I had no idea I had to register for the medical too..so anyways I already booked my medical exam but never registered.  Do you think I should be able to register now?  My appointment is Tuesday...

     

    To make an appointment you need to do 2 things: 1) REGISTER and 2) EMAIL the office for an actual appointment date.
     

    1. REGISTER: You can register by clicking here. Please carefully and accurately fill out the registration form.  After you register, the system will provide you with a registration number which you BRING to the medical appointment.

    K Visa Medical Exam - what to bring

    in Canada

    Posted

    Hi guys,  

    I have my medical this coming Tuesday in Toronto.  I've been searching for a list of things that I need to bring to the medical but I keep getting different answers.  I've read that I need 1 photo (US size?), vaccination records, letter of Montreal interview appointment, passport and is that it?  Has anyone had their medical in the last months that can tell me what exactly is needed?

    Thanks!!

     

    Scheduling Appointment - Immigrant or Non Immigrant Visa

    in K-1 Fiance(e) Visa Process & Procedures

    Posted

    Hi guys, 

    This is my first post and I am in Canada.  I'm panicking...I received the email to go ahead and schedule my interview.  There was a first link that took me to the contact page of the Appointment website. (Green - Immigrant Visa)  I figured that was the site to schedule the interview, but now I just realized that there's another appointment page (Purple - Non Immigrant Visa) ugghhh did I schedule the right interview???

    Please help!! I already booked all my transportation and hotel to Montreal, I think I have 24hrs to cancel if needed.  My medical is also scheduled. Thanks!  I can't believe it : /

     

    https://ais.usvisa-info.com/en-CA/iv

     

    https://ais.usvisa-info.com/en-ca/niv

     

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