AOS and tax situation

[phoenix2017 1]

Hi all,

 

I am starting to prepare for AOS soon and I just wonder if there's a benefit applying for it later say Jan 2018 instead of Dec 2017 to avoid tax for foreign income/capital gain issue? Do I get taxed for the whole year of 2017 if I apply for AOS in Dec 2017?? And is there any tax for any asset I move from my home country to the US or is there a one-off exemption for that?

 

I also want to know that is it that once we filed for AOS I am able to stay past my B1 visa expiration date? (I am trying to file for AOS a few weeks or a month hopefully earlier prior to the expiration date but just I need the information for my marriage license - I lost my past divorce paper so I don't remember the exact date of the divorce and it's required for the marriage license obviously - anyone knows what other states that doesn't need the exact date? I am in Colorado). Sorry that's a lot of questions hope someone can help some of them!! 

 

 

[Wuozopo 4,293]

Whether you have tax liability does not hinge on when you mail your AOS. It depends on if you have been granted a greencard -or- If you have enough days of physical presence in the US. It depends on if you earned income in the US while a tourist. Basically right now you are a tourist.

 

You may file jointly with your spouse in which case all income earned anywhere by both parties is reported, but foreign earned income has an exclusion form to keep from paying taxes on it. 

 

The assets themselves aren't taxable. I'm not exactly sure what you are asking. If you mean for example "if I bring $50,000 from my foreign savings account to the US do I pay tax on $50,000?" No. It's called income tax and money you have saved is not income you earned in 2017.  If you earned $500 interest on that $50k that was paid to you in 2017, then that could be taxable income if you are required to file or if you choose to file a joint return. 

 

Find detailed information in IRS Publication 519 https://www.irs.gov/pub/irs-pdf/p519.pdf

 

Texas does not require dates of divorce. Application https://www.dshs.texas.gov/vs/field/docs/vs180-(2)-fillable.pdf

 

[Wuozopo 4,293]

Your AOS application will ask for complete details of your former spouse and marriage including birthdate, dates of marriage and divorce, and location for both. 

[phoenix2017 1]

thanks for your info and reply!! 

[phoenix2017 1]

As I still have work outside US which I am maintaining, I just wonder if that income would be taxed. So between AOS and greencard I am not taxed? 

[Wuozopo 4,293]

Find detailed information in IRS Publication 519 https://www.irs.gov/pub/irs-pdf/p519.pdf

 

AOS is a long process. It's not a starting marker. There is no "between AOS and greencard". You have no timeline or information to base an answer on. Are you in the US. How many days in 2017 have you spent in the US. Have you married? Are you working without authorization?  

 

Read the publication. 

 

[phoenix2017 1]

I am not working in US.

I am in US yes. I have been here for almost 4 months on a B2 visa. 

We are getting married in a month once I have the date of my previous divorce - I don't have the exact date and it's required to get the marriage license here in CO.

[Italian_in_NYC 259]

6 hours ago, phoenix2017 said:

I am not working in US.

I am in US yes. I have been here for almost 4 months on a B2 visa. 

We are getting married in a month once I have the date of my previous divorce - I don't have the exact date and it's required to get the marriage license here in CO.

If you are in the US you may be a US Person for tax purposes (check your physical presence test). You have to report your foreign income (and claim foreign tax paid, if any, to partially or totally offset your US tax liability).

If you are a US person for tax purposes then all the information returns (including FBAR) are required.