What if someone has lived abroad for five years and not filed their US taxes even once in that time? What are the possible consequences of this? How can this be remedied?
2006-10-26 23:48:28 · 9 answers · asked by Lao Ban 1 in Business & Finance ➔ Taxes ➔ United States
You seek the aide of tax accountants and tax lawyers who specialize in bringing delinquent taxpayer forward. If you think you might owe a lot, seek a lawyer and talk about everything as hypothetical until you're ready to clear the situation. If you think you probably owe nothing, you can start off with a tax accountant, but again speak of your situation hypothetically.
The tax accountant or tax attorney will plead your case with a sympathetic IRS Tax Attache, requesting a waiver of all penalties you may be facing. You will have to pay the back taxes, but you have a good shot of getting the penalties waived if you aren't already in receipt of nasty letters from the IRS.
If you have been getting nasty letters already, it's much harder to plead ignorance, and you may have to live with the penalties.
Since you live abroad, you are entitled to the Foreign Earned Income Exclusion, Foreign Housing Exclusion, Foreign Tax Credits, Tax Treaties, and a host of other miscellaneous items that will in all likelihood reduce your US burden to a very manageable amount. Why not take the plunge today and solve your problems?
If you are interested in taking this further, feel free to email me.
2006-10-27 02:24:12 · answer #1 · answered by lizzit 3 · 0⤊ 0⤋
If you lived and worked abroad for 5 years you most likely have no taxable income if you earned less than a ceiling amount. You may have refunds due you. You may have a late filing penalty. You have to get ahold of somebody who does income tax returns and scope the situation out to see what your exact status is. We are all different.
2006-10-27 02:57:41 · answer #2 · answered by acmeraven 7 · 0⤊ 0⤋
The truth is if you don't make any serious money they don't care, they threaten but the worst thing they can do is hit you with some fines and penalties. Look at Daschle they didn't go after him until they found out he owed over a hundred grand, then it was a slap on the wrist. I didn't file for a few years, then one year I just sent them a return and they sent me a refund. If they owe you money believe me they're not going to say anything.
2016-05-22 00:23:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Ask Willie Nelson about not filing taxes. LOL
If you have been out of the country you could probably contact the IRS directly and find the best solution for you by speaking with someone there.
http://www.irs.gov/
Have you made any US taxable income for federal taxes? If not then you may not have to worry about it.
2006-10-26 23:52:21 · answer #4 · answered by sesamenc 4 · 0⤊ 0⤋
see a tax specialist, file and amended tax form
provide documentation of being out of country
be prepared to pay taxes due plus penalties and interest!
2006-10-26 23:51:52 · answer #5 · answered by Pobept 6 · 0⤊ 0⤋
Financial penalties and perhaps prison. Get yourself a good tax attorney and accountant. Also, why don't you look up the plight of U.S. "actor" Wesley Snipes, another tax-cheat.
2006-10-26 23:50:35 · answer #6 · answered by Anonymous · 1⤊ 0⤋
Ask Wesley Snipes. I believe he's in Namibia at the moment so he may be hard to find (the IRS are having enough trouble). Good luck.
2006-10-26 23:56:23 · answer #7 · answered by little_miss_prickles 2 · 0⤊ 0⤋
getting audited by the IRS is a definite possibility followed by fines, back payments and even up to jail....no kidding.
2006-10-26 23:50:44 · answer #8 · answered by Anonymous · 0⤊ 0⤋
it depends on your status, and what form you failed to file (Federally) in the USA.
2006-10-26 23:52:56 · answer #9 · answered by Star 5 · 0⤊ 0⤋