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Tesco

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  • City
    Orlando
  • State
    Florida

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  • Immigration Status
    IR-1/CR-1 Visa
  • Place benefits filed at
    Nebraska Service Center
  • Local Office
    Orlando FL
  • Country
    United Kingdom

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  1.    Mtriligy reacted to a post in a topic: Form 8938 - Questions
  2. Tesco
    There are two systems for international reporting: 1, CRS 2, FACTA 1, This is an international money laundering / tax evasion system, where tax information is shared between countries. 2, This is only for the U.S. and was signed into law in about 2010. The vast majority of countries, (with the exception of those sanctioned), report to Uncle Sam on their 'U.S. Persons'. customers. Things like maximum account balance, which must then tie in with your reporting on FinCEN114 and 8938. Many will be asked their U.S. status, SSN/ITIN when signing up for an account, or dealing with law firms. My gut feeling on what you say is that no, a 8858 is not required, as the rental is held as a personal property, (not in trust, business etc). You could do what they call a 'quiet disclosure' and hope the IRS don't bite. You're in a tricky situation, but I would reach out to an international tax accountancy firm, (TFX, Greenback). They are internationally known and can better advise on your circumstances. You do have complex issues and deep compliancy failures. Putting that to one side, I'd not go the DIY route on 8858's. Get a quote and sleep easy...
  3. Tesco
    Japan will report you maximum account balances to the IRS. It's called FACTA.
  4. Tesco
    Where did you work abroad?
  5. Tesco
    Where are you located?
  6.    Mtriligy reacted to a post in a topic: Form 8938 - Questions
  7. Tesco
    I'd say yes, needed reporting as you returned to the U.S. I'd suggest you get a CPA or an enrolled agent and file via the Streamlined Amnesty Program with the IRS. If you qualify, you may save tens of thousands of dollars in penalties.
  8.    Mtriligy reacted to a post in a topic: Form 8938 - Questions
  9. Tesco
    So we were able to sign up to ACA ok and picked a plan to start April 1st. The problem that I have is that Healthcare.gov are unable to verify my income, (which will likely be a few hundred dollars this year). I suspect that as the application asked for a SSN, and I didn't have one yet, (I left this blank). I do have an ITIN, which we use as we file jointly for 2024 and previously. I did a note and uploaded, with regards income, but until I get my SSN through, they say that unless they can verify income, the Premium Tax credits could change or end? This means we'd pay $1,900 a month. Ok, would get this back come tax submission time next year, but it's an awful lot to pay up front. Has anyone had this? Thank you We need to confirm: Annual Income (for me only, not USC Spouse) Send documents by: June xx If you don't: Your financial help will change or end
  10.    OldUser reacted to a post in a topic: Form 8938 - Questions
  11. Tesco
    1, All of your accounts will be shown at the top of form 8938, 'cash and 'asset'. 2, The maximum value of your insurance policy will be what you've distributed during the year. If its $0, so state. 3, report the individual accounts and they will then reflect in the total at the header of the form. 5, Yes, deposit. 6, Yes, needs reporting. You would report property held in Trust, or owned by a business.
  12.    jaywave reacted to a post in a topic: Filing Form 1116 – Foreign Tax Credit Explained
  13. Tesco
    Have a look at international tax firms: TFX Greenback Google will show others too.
  14. Tesco
    Joint Sponsor and Consular Officer.
  15. Tesco
    There was no problem. The CO said I needed a JS, dispute spouse having over 125% of the poverty level from income that will continue and also some on a 1099-R. May well of submitted a new I-864 to show assets, but just went with the JS and was approved in 3 days.
  16.    OldUser reacted to a post in a topic: Foreign Earned Income Exclusion (FEIE) tax filing and CR1/IR1 visa for my spouse
  17. Tesco started following Obama Care Questions and Foreign Earned Income Exclusion (FEIE) tax filing and CR1/IR1 visa for my spouse
  18. Tesco
    We had a similar issue with filing 2555, (definite foreign employer/income). Residual U.S. sourced income was well above the 125% level, (continues in the U.S.), had to get a joint sponsor though.
  19.    Tesco reacted to a post in a topic: Obama Care Questions
  20. Tesco
    Thank you. My spouse has a job lined up, but there are no benefits. We do have several months of short term coverage to see us through, as an overlap. Speaking with ACA, coverage would begin April 1st, providing my SS card/number is received ok. I had asked for it to be sent on the DS-260.
  21.    Tesco reacted to a post in a topic: Filing Form 1116 – Foreign Tax Credit Explained
  22.    SalishSea reacted to a post in a topic: Obama Care Questions
  23.    jaywave reacted to a post in a topic: Filing Form 1116 – Foreign Tax Credit Explained
  24. Tesco
    The flights part is for my USC Spouse who has been living with me overseas. Is proof of the flight to the U.S enough, (i.e. uploading a boarding pass)? CBP don't date stamp passports anymore, so I wonder how someone can prove they have moved and enrol in Obama care the next day.
  25. Tesco
    So, we leave for Florida next week, after a long process. I wanted to ask of any experiences with Obama Care enrolment. I'm on an IR1 and spouse is a USC, that is 'moving from a foreign country' to the U.S. We will enrol on our first full day in the county. Of course I will not have my SS Card through, so do I just leave that field blank on the application? I can fill in the Immigrant Visa and I-551 information, which I see is verified through the SAVE system. If arriving into the U.S. and then enrolling so soon, going to cause a problem, will they know about my arrival? Is the system in real time, would this have been updated at the POE the day before? Would you likely be asked to upload a photo of the visa and I-551? As for my spouse, (moving from a foreign country to the U.S.). Has anyone experienced this and what evidence if any was required? Do that take you on your word? We fly together and I have the flight confirmation with both our names and seat assignments etc. Thank you
  26. Tesco
    Use the exchange rate effective when payment was received. You may also use the IRS average exchange rate if foreign income is spread over the year. Use the ‘General’ category of income. Pretty much all software, (TaxAct for example) handle this.
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