HELP!!! Am I screwed?

[AnotherLostSoul 167]

I am sooooooooooooooooooooo relieved you get along with your parents/siblings. But...but....WHERE'S MY HUG? LOL:) All right, I'll stop getting off topic...just could not resist. All the best!

Thank you Nich-Nick, I want to hug you!

[Faery 0]

I am sooooooooooooooooooooo relieved you get along with your parents/siblings. But...but....WHERE'S MY HUG? LOL:) All right, I'll stop getting off topic...just could not resist. All the best!

Oh I haven't forgotten you ALS........you can have a hug AND a flower

[Faery 0]

What is the big deal? Sent them the $16 and all is said and done. They might charge you interested on top at a later time but most likely is that they deduct the couple of cents from your next refund. So keep your mouth close at the interview.

My mouth will be zipped Buckyball

[AnotherLostSoul 167]

Awe....woohoo!!! *jumps up and down* All the best to you!

Oh I haven't forgotten you ALS........you can have a hug AND a flower

[MJC79 1]

My mouth will be zipped Buckyball

Hi Faery,

You will be totally fine. I am accountant and in my experience overdue or past due basically means that you owe back taxes and IRS has issued collections or liens and sent you several letters etc. which you ignored. you made an honest mistake on your taxes and you are amending your return, which shows you are actively remedying the situation.

At the time of the interview, if you have paid all past due taxes, you don't even need to provide an explanation. you will be telling 100% truth when you say that you do not owe any back taxes.

[Faery 0]

Thank you so much for your reply MJC79! The thing is, it's not just our 2013 tax return. We've amended that but also realized we hadn't done form 8938 for the last 3 years and so we owe another $42 for the interest I earned on my UK savings account. We're working on it now and will be sending it all off tuesday. There is a $10,000 fine for not completing that form so 3 years we've not done it.....$30,000?? Dear God I hope not! The other posters think we won't get fined though

I really appreciate your reply, and I am in awe of accountants and anyone who is good with math because I have a learning Disability in that area (Dyscalculia) so taxes etc just boggles my mind Anyway, thank you again you're a

[Buckyball 22]

Do you really thing they would be able to impose a fine of $10K for $42 owned? That might be the case if you hide a hundred thousend in interest.

[AnotherLostSoul 167]

I would add: just shove all the paperworks under your arm when you go to the interview, that way you can show whatever the IO may wish to see. But I am sooooo sure you'll be coming up here saying "Hey everyone! I had my interview! The IO did not ask anything, but rather got 6 easy US history questions, then I had to write a sentence, and then read that sentence aloud to see how my British accent improved to be more of an American accent" and then IO said you'll get an oath invitation letter in the mail in the coming week".

Thank you so much for your reply MJC79! The thing is, it's not just our 2013 tax return. We've amended that but also realized we hadn't done form 8938 for the last 3 years and so we owe another $42 for the interest I earned on my UK savings account. We're working on it now and will be sending it all off tuesday. There is a $10,000 fine for not completing that form so 3 years we've not done it.....$30,000?? Dear God I hope not! The other posters think we won't get fined though

I really appreciate your reply, and I am in awe of accountants and anyone who is good with math because I have a learning Disability in that area (Dyscalculia) so taxes etc just boggles my mind Anyway, thank you again you're a

[Faery 0]

Do you really thing they would be able to impose a fine of $10K for $42 owned? That might be the case if you hide a hundred thousend in interest.

Ah, I didn't think of it like that, I'm the proverbial rabbit in the headlights Buckyball!

[Faery 0]

I would add: just shove all the paperworks under your arm when you go to the interview, that way you can show whatever the IO may wish to see. But I am sooooo sure you'll be coming up here saying "Hey everyone! I had my interview! The IO did not ask anything, but rather got 6 easy US history questions, then I had to write a sentence, and then read that sentence aloud to see how my British accent improved to be more of an American accent" and then IO said you'll get an oath invitation letter in the mail in the coming week".

How fabulous that would be! Thank you for your comforting words ALS but I know you are really after another flower so here you are

[AnotherLostSoul 167]

Awe....nice!!!! Thank you!!!!

How fabulous that would be! Thank you for your comforting words ALS but I know you are really after another flower so here you are

[Faery 0]

So I'm back to FREAKING OUT as I now discover my husband did not declare my foreign accounts nor any interest I earned on our 2009 tax return. This will be seen as fraudulent even though it was a genuine mistake. This is one big mess I really do feel screwed now. I want to declare it and face the penalties but my husband says to just leave it but I cannot lie at my interview!!!!!!! I am in despair! I also read that:

Exceptions to the 3-year statute of limitations on assessments and audits:

The IRS has six years from the date a return is filed to audit a tax return and to assess additional tax if the taxpayer omits income that amounts to more than 25% of income that was reported on the tax return.
The IRS also has six years to audit a tax return and assess additional tax on income related to undisclosed foreign financial assets if the omitted income is more than $5,000.
The statute of limitations on audits and assessing additional tax remains open indefinitely if the taxpayer files a false or fraudulent tax return.

[Nich-Nick 3,354]

So I'm back to FREAKING OUT as I now discover my husband did not declare my foreign accounts nor any interest I earned on our 2009 tax return. This will be seen as fraudulent even though it was a genuine mistake. This is one big mess I really do feel screwed now. I want to declare it and face the penalties but my husband says to just leave it but I cannot lie at my interview!!!!!!! I am in despair! I also read that:

Exceptions to the 3-year statute of limitations on assessments and audits:

The IRS has six years from the date a return is filed to audit a tax return and to assess additional tax if the taxpayer omits income that amounts to more than 25% of income that was reported on the tax return.

The IRS also has six years to audit a tax return and assess additional tax on income related to undisclosed foreign financial assets if the omitted income is more than $5,000.

The statute of limitations on audits and assessing additional tax remains open indefinitely if the taxpayer files a false or fraudulent tax return.

Your interviewer is not the IRS. He isn't really going to be going over your tax returns. He probably doesn't understand them anymore than you do. I doubt your husband knew he was doing anything wrong. You filed. You paid taxes to the best of your knowledge. Be at peace. Forget the IRS and go to your interview. If the IRS should decide to audit your very old return, then pay them what they bill you. I doubt if you ever hear from them. They don't have the resources to go after nickel and dime mistakes. And they don't know you earned foreign interest anyway, so how would they flag your account as a mistake?

[AnotherLostSoul 167]

@Faery: don't freak out...that makes ME freak out! But yeah Nich-Nick is right. USCIS won't meddle through your UK stuff. Indeed, I am not even sure foreign banks have the authorization to release information to a foreign "IRS" angency. So I am not sure either the IRS, or USCIS will smuggle this out and whack you in the head. All the best!

[Faery 0]

Actually they can and they do. New law called FATCA. There is also FBARS, thankfully I've done all but one of them, the first year I was here and had no knowledge of it's existence. Our mistakes were innocent enough but IRS may not see it that way, they apparently don't allow ignorance as an excuse.