PROOF OF INCOME: TAX RETURNS

[Gary and Alla 3,694]

I have '1040' and '1120' for each year...and only 1 recent pay stub?

No sure what the 1099 is or a schedule C?

I'll ask.... would hate to be turned away

1040 = Individual Income tax return

1120 = Corporation Income tax return

If he has a corporation then he is NOT "self employed" because his corporation is also a "taxpayer" and he should be an employee of said corporation drawing earned income via a W-2

A self-employed person is someone who reports the results of there business as a part of the Individual Tax return (most likely on Schedule "C"). The person and the business are the same without a "legal" entity (corporation) in between.

The 1120 does you no good as the corporation is NOT your sponsor.

Exactly, if his business is incorporated, as evidenced by the form 1120, then he needs to have a w2 as an "employee" of that company, even if he is the only "stockholder" of the corporation. It is a common practice and perfectly legal to incorporate one's own business. But the you become an employee, NOT self employed.

[Gary and Alla 3,694]

Have your fiance do some work and read the forms. He will understand what's acceptable.

Thanks as i'm the one who does the 'homework' is there somewhere on the site where I can see what is acceptable supporting docs? My fiance is convinced that what we have is sufficient...i'm worried that it is not..

thanks for all the feedback

From what you describe, it absolutely is NOT. The consulate couldn't care less about the income of a corporation, you can throw the form 1120 right in the trash. If the business is incorporated your fiance is NOT self employed. He is EMPLOYED by a corporation he owns. BIG difference. HIS 1040 is sufficeint provided you also attach a copy of the w-2 OR obtain a transcript of the return from the IRS and then you do not need the w-2

[Gary and Alla 3,694]

Ok last question, I promise

What is the difference between an IRS transcript and the official tax filing that my fiance has given me? Are they not the same thing?

My fiance has no supporting docs... he just takes his books to his accountant, his accnnt files his personal and bus taxes... there are no W2's... and he writes himself cheques through his biz account... he has documentation showing that he and his corp are one in the same?

Is there somewhere on the US Gov site that outlines what is acceptable for proof of income etc?

Thanks

Ask all the questions you like.

The 1040 your fiance gave you is not "official" in any way. I can write up a tax returm right now saying I made $14,000,000 last year, when in fact I barely earned half of that

The transmittla is a copy from the IRS of what THEY received from him, this is the "official" tax return.

A corporation, which he must have if he filed an 1120, is a separate legal entity. It is not "your fiance" even if he is the sole owner of the corporation. Corporations cannot sponsor people for fiancee visas. Ony individual citizens can.

The income of the "corporation" is NOT the same as the income of your fiance. He may choose to pay himself a wage, a salary, whatever. For that he would write a check from the corporations account to himself and deposit it in his account, for which the corporation must now produce a w-2 to report they paid money to an individual as an employee. He must "withhold" money from his own pay to deposit in a corporate tax account to pay "payroll" taxes monthly, or quarterly, depending on how the IRS sets up the account for the corporation. Any money transferred from the corproate account to his account must be "accounted for" as payroll, dividends, investment returns, or re-imbursement and are subject to varying levels of taxes and some is tax exempt (reimbursements for example which are not taxed but do not count as "income")

If the consulate is to accept regular copies of tax returns, not official transcripts, they need to have the w-2 attached.

I think, if your fiance has a corporation, he understand these things.

[Gary and Alla 3,694]

Ok last question, I promise

What is the difference between an IRS transcript and the official tax filing that my fiance has given me? Are they not the same thing?

My fiance has no supporting docs... he just takes his books to his accountant, his accnnt files his personal and bus taxes... there are no W2's... and he writes himself cheques through his biz account... he has documentation showing that he and his corp are one in the same?

Is there somewhere on the US Gov site that outlines what is acceptable for proof of income etc?

Thanks

There are some rules for subchapter S corporations and things I am not aware of, as far as I know a corporation and an individual cannot be one and the same.

If he is truly self employed, he will not have a w-2 but should have a something tio show where his income comes from. I am getting very confused now as this is normally quite simple. I have operated my own business as a sole propietorship and as a corporation and it was always very clear. W-2 or schedule C or 1099.

[Gary and Alla 3,694]

I did find instructions on the I-134, it states that if self employed,

they require:

A copy of your last income tax return filed, or

Report of commercial rating

I see that most people provide 3 previous years. And it does state that a legible copy of an original is acceptable. Am I looking at the right instructions? (this is off of the US Gov site)

Exactly, but it must be a FULL tax return, with all schedules and attachments, it seems something is missing if nothing states the SOURCE of his income. W-2, 1099 or Schedule C

[JAPrincess 27]

Tax returns are useless without the supporting documents originally submitted with them (to the IRS). Supporting documents (as stated in the above post) may include W-2's, 1099's, Schedule C's etc...

To avoid having to send supporting documents - an individual can order IRS Transcripts (free) which will satisfy both the tax return and supporting document requirements.

The info below is from http://www.irs.gov/individuals/article/0,,id=110571,00.html

Request transcripts by calling 1-800-829-1040, or order by mail using IRS Form 4506T (Request for Transcript of Tax Return).

[MapleLeafBaby 1]

Thank you

[payxibka 10,045]

My fiance has no supporting docs... he just takes his books to his accountant, his accnnt files his personal and bus taxes... there are no W2's... and he writes himself cheques through his biz account... he has documentation showing that he and his corp are one in the same?

trust me... his accountant does NOT file his personal and business taxes... his accountant PREPARES but your fiance files

[Gary and Alla 3,694]

Thank you

None of my business really, but if I were you I would ask him for the transcripts. That settles all, is definitely acceptable, and, well...I would just ask for the transcripts. There are many reasons, most of which should come clear when you ask for them.

[bayojona3231 4]

Excuse my lack of knowledge as I am only familiar with Canadian filings...

so is the 1040 not good enough? my fiance says he does not rec've W2's?

I'm so confused

who does he work for and how is he paid?

Tell your fiance to provide "complete tax returns including all schedules and supporting docuements". He'll know what that means. Alternatively, have him request the IRS fax him "tax transcripts". The affidavit of support it the US citizen's responsibility. It's so much easier to communicate with somebody who understands US tax returns. If your fiance doesn't then have him request the above from his accountant.

That is an excellent input Pushbrk. The USC should provide the 1040, W2s, 1099s and all the schedules.

[Anh map 2,098]

Have your fiance do some work and read the forms. He will understand what's acceptable.

Thanks as i'm the one who does the 'homework' is there somewhere on the site where I can see what is acceptable supporting docs? My fiance is convinced that what we have is sufficient...i'm worried that it is not..

thanks for all the feedback

The affidavit instructions are clear about what is expected with regard to supporting docs. Your fiance's tax preparer will know the proper docs if your future husband does not.

Copy and paste puskbrk's advice into an email to your fiance and accountant.

[pushbrk 12,824]

Ok last question, I promise

What is the difference between an IRS transcript and the official tax filing that my fiance has given me? Are they not the same thing?

My fiance has no supporting docs... he just takes his books to his accountant, his accnnt files his personal and bus taxes... there are no W2's... and he writes himself cheques through his biz account... he has documentation showing that he and his corp are one in the same?

Is there somewhere on the US Gov site that outlines what is acceptable for proof of income etc?

Thanks

If they were the same thing, I wouldn't be proposing one as an alternative for the other. This is a US Citizen responsibility. Based on your description of what you have, he's wrong about what he thinks is good enough. If success is your goal, get HIM to do exactly as I advised. He can do it now or do it after your denial.

[Gary and Alla 3,694]

Ok last question, I promise

What is the difference between an IRS transcript and the official tax filing that my fiance has given me? Are they not the same thing?

My fiance has no supporting docs... he just takes his books to his accountant, his accnnt files his personal and bus taxes... there are no W2's... and he writes himself cheques through his biz account... he has documentation showing that he and his corp are one in the same?

Is there somewhere on the US Gov site that outlines what is acceptable for proof of income etc?

Thanks

If they were the same thing, I wouldn't be proposing one as an alternative for the other. This is a US Citizen responsibility. Based on your description of what you have, he's wrong about what he thinks is good enough. If success is your goal, get HIM to do exactly as I advised. He can do it now or do it after your denial.

You could certainly win the prize for being concise.