Income Requirements

[JasonUSA 0]

Hi Everyone, I've lurked on here for a long time and now want to get everyone else's input on if my income is okay.

I will be petitioning for a K-1 Visa. It is my understanding that I need 125% of poverty line for when the interview rolls around. Several questions:

Is this based upon Poverty Line amounts for year applied, or for the year of the interview?

Is this income based upon prior year Income Tax Returns or Current Income?

How is income calculated? Gross before taxes, 401k deductions, etc, or after deductions but before taxes?

My Situation:

I will be bringing over my fiancee and her child under a k-1 visa. For income tax returns from 2006 and previous years I am able to show sufficient income. I was out of work for several months this year and will be right at about 21567.23 gross income before taxes and insurance / retirement deductions. 125% of 2007 Poverty Line for 3 people is $21462.50 so obviously I am very concerned about making enough. My current income is about 27k-29k which I can back up with check stubs, however this is at a job I just started 3 weeks ago. Can anyone let me know if I need to be concerned about being so close to the cut off line on my 2007 income? Maybe I should go get another part-time job to get enough income to show for 2007?

Thanks so much for any input that anyone has!!!

-jason

[YuAndDan 153]

Is this based upon Poverty Line amounts for year applied, or for the year of the interview?

Year of interview

Is this income based upon prior year Income Tax Returns or Current Income?

Curent income.

How is income calculated? Gross before taxes, 401k deductions, etc, or after deductions but before taxes?

Gross income before taxes.

Read carefully the financial requirements from the consulate:

k. EVIDENCE OF SUPPORT. You should be able to demonstrate that you will not become a public charge or be a burden on the U.S. taxpayers for financial support. Submit your petitioner’s most recent U.S. Federal income tax return (Form 1040) and wage statements (Form W-2). Employment letters stating salaries and bank statements may be included. A completed I-134 Affidavit of

Support Form will be useful to the consular officer to evaluate your petitioner’s ability to be financially responsible for you.

http://manila.usembassy.gov/wwwfivk1.pdf

The directions included with I-134 are very old, USCIS has no reason to update them since USCIS has no application for that form.

The consulates tend to treat the I-134 like a mini-I-864 as so prefer the same financial evidence as the I-864.

In our case this what the I-134 included.

• I-134 signed and notarized.

• SIMPLE Tax transcripts from the IRS for past 3 years, (Redundant for the (1040,W2,1099) but are free from the IRS http://www.irs.gov/faqs/faq1-6.html

• Photo copy of IRS form 1040, and W2s for past 3 years (Not necessary if you provide the transcripts)

• Letter from my employer stating annual salary, job responsibility, and that is full time, on company letterhead.

• Photo copies of past month or so of pay stubs up to a few weeks before the interview.

My income was well above the povertyline so I did not include any asset data (LIKE BANK STATEMENTS or property values).

If your income exceeds 125% of the povertyline when counting yourself, prospective immigrant and any dependents, then don't bother with assets (401K, Bank balance, Stocks etc..), it is just extra un-needed data to provide, the consular officer is most concerned with INCOME.

http://www.visajourney.com/timeline/profile.php?id=41672

Edited November 11, 2007 by YuAndDan

[JasonUSA 0]

Is this based upon Poverty Line amounts for year applied, or for the year of the interview?

Year of interview

Is this income based upon prior year Income Tax Returns or Current Income?

Curent income.

How is income calculated? Gross before taxes, 401k deductions, etc, or after deductions but before taxes?

Gross income before taxes.

Read carefully the financial requirements from the consulate:

k. EVIDENCE OF SUPPORT. You should be able to demonstrate that you will not become a public charge or be a burden on the U.S. taxpayers for financial support. Submit your petitioner’s most recent U.S. Federal income tax return (Form 1040) and wage statements (Form W-2). Employment letters stating salaries and bank statements may be included. A completed I-134 Affidavit of

Support Form will be useful to the consular officer to evaluate your petitioner’s ability to be financially responsible for you.

http://manila.usembassy.gov/wwwfivk1.pdf

The directions included with I-134 are very old, USCIS has no reason to update them since USCIS has no application for that form.

The consulates tend to treat the I-134 like a mini-I-864 as so prefer the same financial evidence as the I-864.

In our case this what the I-134 included.

• I-134 signed and notarized.

• SIMPLE Tax transcripts from the IRS for past 3 years, (Redundant for the (1040,W2,1099) but are free from the IRS http://www.irs.gov/faqs/faq1-6.html

• Photo copy of IRS form 1040, and W2s for past 3 years (Not necessary if you provide the transcripts)

• Letter from my employer stating annual salary, job responsibility, and that is full time, on company letterhead.

• Photo copies of past month or so of pay stubs up to a few weeks before the interview.

My income was well above the povertyline so I did not include any asset data (LIKE BANK STATEMENTS or property values).

If your income exceeds 125% of the povertyline when counting yourself, prospective immigrant and any dependents, then don't bother with assets (401K, Bank balance, Stocks etc..), it is just extra un-needed data to provide, the consular officer is most concerned with INCOME.

http://www.visajourney.com/timeline/profile.php?id=41672

Thanks so very very much!

So even though my income tax return might be under the new 125% poverty line requirements in 2008, as long as my current income at the time is above that I shouldnt worry any longer I guess. Now to get everything together and start mailing it all off. I'll get my timeline updated as soon as it's all in the mail. Thanks again for the advice, I'll take any that I can get!

-jason

[reeses16 8]

You should be fine. You just meet the cut off for 2007, but clearly the mark comfortably for previous years. You could include a brief statement which points to your past earnings, explaining that you were out of work for several months in 2007, and have since been employed doing ___ with a current annual salary of X. The most important thing is to represent of your case in the best light possible.

IF you're still concerned, I think a part-time job will be difficult at this point unless you already have contact. Most seasonal jobs are filled and the application process, + time to first paycheck may have little impact in the 2007 tax year. I think you will be safe with your new job.

[JelloShotGirl 0]

You should be ok ..........however please be aware that the first thing the consular officer asked for at the interview in Manila embassy were the bank statements and w2/s/tax returns. (I made about 39,000.00 at that time) I have no assets LOL so I didnt have anything to show, so I made sure that I included my letter from employer, last couple years tax return w/ w2 and current year income tax return w w2.Just make sure you have all of that and u will do ok. Also I included bank statements of my savings for the last year or so......I dont have a lot in the bank, (prob under $1000) but its better to be safe than sorry cuz they looked at that closely. If you want to get a part time job its a good idea cuz once ur fiance comes over u will be supporting another person and u dont want to be really broke!You might want to work until he/she gets over here, LOL just the fact that you will have some extra money will always be great, considering it will be awhile (at least 6 months or more) until ur fiance will be possibly be able to work. ANd even though U might have as simple wedding ( I got married at courthouse) i ended up speniding about $3000 anyway....good luck on your journey!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[JasonUSA 0]

Okay last question, I promise (for today )

As stated before, my income for tax year 2007 will be right on the line for 125% of poverty line. My actual current income now, when annualized is at about $8000 over the line.

The Question:

I have a 401k from an old job which has to be either cashed out or rolled over. I know all the tax implications of it, BUT... If I cash it out, I was told this would count towards my income for this tax year 2007. It would be reported as about $3000 of income on a 1099R.

Can anyone see any reason why this would not help me with the embassy? Any input on if this will help in any review of my 2007 tax year return and income?

Thanks for any input on this.

[JasonUSA 0]

(deleted duplicate post)

Edited November 14, 2007 by JasonUSA

[Dakine 26]

Is this income based upon prior year Income Tax Returns or Current Income?

Both at the Embassy interview and the AOS interview they only checked out my most recent years ITR.

AOS was in December also. Never asked about current income.

I hadn't submitted anything showing current income tho.

Just most recent year ITR.

Each case is different tho. A LOT depends on the CO and IO.

Edited November 14, 2007 by Haole

[JasonUSA 0]

Is this income based upon prior year Income Tax Returns or Current Income?

Both at the Embassy interview and the AOS interview they only checked out my most recent years ITR.

AOS was in December also. Never asked about current income.

I hadn't submitted anything showing current income tho.

Just most recent year ITR.

Each case is different tho. A LOT depends on the CO and IO.

Thanks for the input. Then I'll definately go ahead and cash out the 401k so I am at least a few thousand over the line of 125% of PovertyLine. Right now my income tax return for this year would show just barely over the line, and if the poverty line is adjusted next year in spring before the interview, possibly below!

[beng_and_carl 0]

may i know when is the poverty line/threshold for 2008 will be released? i might be interviewed by january 2008, i'm worried if we will meet the requirement then.

thanks a lot!!

[Dakine 26]

may i know when is the poverty line/threshold for 2008 will be released? i might be interviewed by january 2008, i'm worried if we will meet the requirement then.

thanks a lot!!

Normally the end of Feburary or first part of March.

[beng_and_carl 0]

may i know when is the poverty line/threshold for 2008 will be released? i might be interviewed by january 2008, i'm worried if we will meet the requirement then.

thanks a lot!!

Normally the end of Feburary or first part of March.

if that's so, therefore, if i will be interviewed by january or february, then, the poverty guidelines that will be followed for me will the 2007 guidelines?

am i correct?

thanks a lot po!!!

[beng_and_carl 0]

ooopppsss! i saw from then I-864P of uscis that the 2007 Poverty Guidelines can be used up to Spring of 2008. So, I believe, we are fine!

Thanks for the replies!!

[Dakine 26]

may i know when is the poverty line/threshold for 2008 will be released? i might be interviewed by january 2008, i'm worried if we will meet the requirement then.

thanks a lot!!

Normally the end of Feburary or first part of March.

if that's so, therefore, if i will be interviewed by january or february, then, the poverty guidelines that will be followed for me will the 2007 guidelines?

am i correct?

thanks a lot po!!!

Opo!

USEM has speeded up on interview scheduleing [sp]. I wouldn't be surprised if you got your interview at end of December. Xmas slows things down tho.

Friend I'm helping just got MNL # 2 weeks ago and the interview is scheduled for December 6!

Merry Xmas!

[chris4gretchen 1]

i thought they went off ADJUSTED gross, not gross income before taxes. maybe someone might want to clarify that.

Chris