Help! my fiancee got blue from today interview, asking for my letter of explanation about my finances

[Darnell 8,479]

Her deadline to submit those papers is Jan 31st 2013, so I'm not sure if I have enough time to file a new tax return and get the transcript on time.

You could have a race, aye? Forget about tax transcripts for the moment.

Prepare 3 tax returns, all the same. Bring all 3 into your local IRS office, give to a clerk, ask for official IRS stamp on each set. Leave 1 with the IRS office, one set goes to your personal file, and the 3rd set YOU SCAN AND EMAIL to yer lass, also sending off the actual paper to her via fast post delivery (whatever that means for you) ..

Give it a thought, soonish, and if you can do it in time, do it.

No transcripts needed.

[Robert Huynh 0]

If I understand this correctly, you showed money going into your account, but the final balance at the end of the month was always about the same. This essentially means you're spending pretty much all of your revenues, which is precisely what your tax return indicates.

When you're self-employed then it's not just your revenues that count. It's your revenues minus your expenses. What's left is your profit. That's carried over to your 1040 as income. Your tax return indicates you're just about breaking even, with very very little profit left over. Your bank statements seem to confirm this.

Yeah, I know.... You can deduct a lot of expenses on Schedule C that makes it LOOK like you spent a lot more on your business than you actually did. This is a courtesy that Congress extends to small business owners to cut them some slack on their taxes. Unfortunately, if you tell the IRS that you spent that money on your business then the consulate must also presume that you spent that money on your business. If you spent the money on your business then it's not income available to support you and your wife.

In order for an asset to be considered you must submit:

1. Proof you own the asset.

2. Proof of the value of the asset (i.e., what you could sell it for).

3. If there are any liens against the asset, proof of the current balance of those liens.

What exactly did your parents submit? Was it a final statement from the mortgage company? That would be proof that particular loan is paid off. It's not proof they didn't subsequently sell the house to someone else, or take out another loan. In all seriousness, this is public information that the CO could probably confirm on their own, but they still want proof of ownership, and for a home that usually means a title or deed. Proof of current value would be a recent appraisal from a licensed appraiser.

If they were inclined to accept your parents as joint sponsors then they wouldn't have listed anything on the blue slip about your income since your income would be irrelevant. I don't think they care about your parent's I-134, but they seem sincerely concerned about yours. They also seem sincerely concerned about who is bankrolling this relationship.

I think I submitted the deed of my parents' house with a statement that thay had paid off their loan of an amount of $xxx,xxx, copy of their income tax, bank statements showing they had about 17K in thier account. The translator told my fiancee that before the CO could issue my fiancee a visa, he needed me to explain the following: how did I pay for my mortgage in 2011 when my income was almost 0; where did I get the money to buy the house; how am I going to pay for the upcoming wedding. Then the CO kept both of my I-134 and my parents' I-134, all of her photos she brought with her to the interview (including our engagement party photos)

I already wrote my letter of explanation about my finances. It was signed by me and both of my parents with their statement confirming what I wrote in the letter are the truth. I also sent my fiancee the deed of my house, all proof of purchase for plane tickets I bought to visit her.

I want to know what is going to happen after my fiancee submit those papers. If they approve my fiancee's visa will they let her know right away, or she had to go home and wait for their letter? If they deny it, will they give my fiancee back those evidences they took from her (photos, letters, etc.)

Thanks!

[KennyJ 10]

I think I submitted the deed of my parents' house with a statement that thay had paid off their loan of an amount of $xxx,xxx, copy of their income tax, bank statements showing they had about 17K in thier account. The translator told my fiancee that before the CO could issue my fiancee a visa, he needed me to explain the following: how did I pay for my mortgage in 2011 when my income was almost 0; where did I get the money to buy the house; how am I going to pay for the upcoming wedding. Then the CO kept both of my I-134 and my parents' I-134, all of her photos she brought with her to the interview (including our engagement party photos)

I already wrote my letter of explanation about my finances. It was signed by me and both of my parents with their statement confirming what I wrote in the letter are the truth. I also sent my fiancee the deed of my house, all proof of purchase for plane tickets I bought to visit her.

I want to know what is going to happen after my fiancee submit those papers. If they approve my fiancee's visa will they let her know right away, or she had to go home and wait for their letter? If they deny it, will they give my fiancee back those evidences they took from her (photos, letters, etc.)

Thanks!

They don't let her know whether she is approved or denied immediately. It could be few days to few months.

[JimVaPhuong 4,863]

You could have a race, aye? Forget about tax transcripts for the moment.

Prepare 3 tax returns, all the same. Bring all 3 into your local IRS office, give to a clerk, ask for official IRS stamp on each set. Leave 1 with the IRS office, one set goes to your personal file, and the 3rd set YOU SCAN AND EMAIL to yer lass, also sending off the actual paper to her via fast post delivery (whatever that means for you) ..

Give it a thought, soonish, and if you can do it in time, do it.

No transcripts needed.

One problem. The IRS is not accepting any returns before January 30th.

http://www.irs.gov/uac/Newsroom/IRS-Plans-Jan.-30-Tax-Season-Opening-For-1040-Filers

[dreamwarrior 0]

Your income and home value minus mortgage owed does not amount to enough to sponsor your fiance since the value of property is liquidated at 1/3 (135k valued - 91k owed / 3 = 14.7k). The money you still owe on the home is a problem because they would consider the asset as one that would cause undue hardship if it must be sold. And since HCMC rarely takes co-sponsors for K1 visas, your best bet is to marry your fiance in vietnam and go the CR2 route. That way you can use your parents as co-sponsors if you still did not make enough in 2012. Otherwise, if you want to keep trucking on, have your parents sign an affidavit claiming that if you ever need to sell your home, that you and your fiance would be welcome to live at their house free of charge.

[quann 26]

good help from jim in this thread...he's the man! i'll be waiting for the result of this case, would be kind of unprecedented for HCM CO to accept a joint sponsor for K1. just going over it briefly i don't think the parents would qualify to support anyway.

i agree with the post earlier that said you can't tell the IRS you're breaking even for the year then turn around and tell the CO hey i got this money every month to support the fiance. be prepared to go the marriage route or wait for new tax return to resubmit.

[Robert Huynh 0]

Hello,

Thank you all for answering my questions. You guys are great helpers!

BTW, I have a good news to announce! My fiancee just got her visa approved today after turning those requested papers! Look like they accepted co-sponsor (my parents) in my case! I am going to Vietnam on February 11th, 2013 to prepare for our wedding ceremony and party, then she is going back to the U.S. with me in April!

[callmekay 19]

Hello,

Thank you all for answering my questions. You guys are great helpers!

BTW, I have a good news to announce! My fiancee just got her visa approved today after turning those requested papers! Look like they accepted co-sponsor (my parents) in my case! I am going to Vietnam on February 11th, 2013 to prepare for our wedding ceremony and party, then she is going back to the U.S. with me in April!

Congrats!!

[aaron2020 11,651]

Hello,

Thank you all for answering my questions. You guys are great helpers!

BTW, I have a good news to announce! My fiancee just got her visa approved today after turning those requested papers! Look like they accepted co-sponsor (my parents) in my case! I am going to Vietnam on February 11th, 2013 to preparedness for our wedding ceremony and party, then she is going back to the U.S. with me in April!

To use the K-1 in April, your fiancée must be single when she enters the US. If you get marry in Vietnam, she will no longer be single. A married woman cannot use a K-1 fiancée visa to enter the US.

You've overcome a lot. Don't blow it by getting marry in Vietnam. Even non-legal wedding ceremonies have ended poorly for many in situations like yours.

While you may have pressure from family to do a "Ket Hon" in Vietnam, it puts the K-1 at risk. You don't want to test how strict US immigration follows the letters of the law.