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Search: Posts Made By: theOAP
Showing results 1 to 25 of 1000
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Forum: USA
Jan 25th 2023, 8:15 pm
Replies: 17
Views: 1,501
Posted By theOAP

Re: Treasury Reporting Rates of Exchange

I’m not convinced either a filed 8938 or the FBAR are ever reviewed if the totals are less than some magic number determined by the IRS, or in case of a serious audit. A lack of either if required...
Forum: USA
Jan 23rd 2023, 3:29 pm
Replies: 45
Views: 5,595
Posted By theOAP

Re: Relinquishing Green Card

The OP mentioned they receive a payment from a “teachers retirement system”. They need to be aware that WEP may be a factor in reducing the amount of SS benefits they receive. This would be true...
Forum: USA
Jan 23rd 2023, 9:19 am
Replies: 45
Views: 5,595
Posted By theOAP

Re: Relinquishing Green Card

A UK resident is not required to also be a US citizen in order to receive US SSA benefits they have qualified for from US employment.

An exception to US SSA rules is a totalisation agreement....
Forum: USA
Jul 2nd 2022, 4:50 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

Most use the "paid" method, it's much simpler.

Those who use the "accrued" method usually have a special situation. Accrued can have some unpleasant results. For example, say in August of 2029 you...
Forum: USA
Jun 30th 2022, 3:55 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

For Information: IRS destroys 30 million information returns

"The IRS said Thursday that it destroyed approximately 30 million unprocessed information returns because its "antiquated technology"...
Forum: USA
Jun 30th 2022, 3:38 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

For information: FATCA success questioned

"In its introduction, the TIGTA report notes that when FATCA was signed into law in March, 2010, the Congressional Joint Committee on Taxation had...
Forum: USA
Jun 30th 2022, 3:31 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

For Information: FATCA and accidental Americans

"Dutch Tax Affairs and Tax Administration secretary Marnix van Rij said on Wednesday that he plans to ask – for a second time – that the country's...
Forum: USA
Jun 30th 2022, 3:25 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

For information: FBAR

"In what many tax lawyers and others have long hoped it would do, the U.S. Supreme Court has at last agreed to consider a so-called "non-willful FBAR penalty" case, which is...
Forum: USA
Jun 30th 2022, 3:20 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

And, FTCs can not be used against NIIT income tax.
Forum: USA
Jun 30th 2022, 2:47 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

It sounds as though you are using form 1116 FTC.

Starting for the 2021 tax year, you will be required to use 1116Schs A and B. This will give you the carry over officially. Follow the instructions...
Forum: USA
Jun 27th 2022, 10:56 am
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

The OP needs the following forms, at a minimum:
1040
schedule B (importantly, including Part III since you have a foreign {UK} bank account)
either 2555 or 1116
if 2555, schedule 1
if 1116,...
Forum: USA
Jun 25th 2022, 12:49 pm
Replies: 69
Views: 3,624
Posted By theOAP

Re: US / UK Citizen Tax while living in the UK

Without a US issued credit card and a US address, filing a US tax return on line from the UK is nearly impossible. There have been examples of those who fooled the payment system with creative...
Forum: USA
Mar 24th 2022, 7:11 pm
Replies: 8
Views: 5,660
Posted By theOAP

Re: 2021 8938 Form missing continuation statement?

I'll be interested to hear from TurboTax, H&R Block, and TaxAct users on this, but also anyone paper filing.

I file by paper, so can't answer for others.

Yes, the form changed in Nov. 2021 and...
Forum: US Immigration, Citizenship and Visas
Apr 23rd 2021, 6:50 pm
Replies: 21
Views: 3,101
Posted By theOAP

Re: Renouncing US Citizenship

[/i]

First, no, a lawyer is not required normally. Contact the US Embassy in London (or US Consulate in Edinburgh), fill out the relevant forms, go to the Embassy or Consulate, pay $2,350, and...
Forum: USA
Feb 25th 2021, 7:08 pm
Replies: 56
Views: 8,532
Posted By theOAP

Re: Pensions from UK question - US Tax Form

I file from the UK, have no US pensions other than US SS, and I file on paper - so I don't have any of the problems of trying to get TT to work. There are 5 foreign pensions for the IRS; 3 company...
Forum: USA
Aug 10th 2020, 8:07 pm
Replies: 46
Views: 7,653
Posted By theOAP

Re: Why are Americans giving up their citizenship at record numbers?

As a US expat resident abroad for the last 40 years, I'm somewhat sensitive to discussions on renunciation. For a while I participated in efforts to reform the treatment of US expats, but after...
Forum: USA
Aug 10th 2020, 12:47 pm
Replies: 46
Views: 7,653
Posted By theOAP

Re: Why are Americans giving up their citizenship at record numbers?

Someone asked about surveys.

The following is from Laura Snyder. A look at Part 1, data, answers most of the questions about who is renouncing.
...
Forum: Moving back or to the UK
Mar 1st 2020, 4:12 pm
Replies: 2
Views: 597
Posted By theOAP

Re: Income Splitting (Pension)

In very limited circumstances, there is the opportunity to transfer part of the personal allowance from one spouse to the other, but it's not really income splitting.
...
Forum: Moving back or to the UK
Feb 10th 2020, 8:31 pm
Replies: 1
Views: 1,531
Posted By theOAP

Re: Relocating Back to UK

For a US citizen, resident in the UK, US SS can be paid directly into your UK bank account. The exchange rate is the average rate at the time of payment which will be a good rate. It would only be...
Forum: USA
Feb 7th 2020, 3:49 pm
Replies: 24
Views: 2,231
Posted By theOAP

Re: Taxes: Moved to US on 30th December, do we file separately or jointly?

I'll stand by my last post.

All of it.
Forum: USA
Feb 7th 2020, 1:33 pm
Replies: 24
Views: 2,231
Posted By theOAP

Re: Taxes: Moved to US on 30th December, do we file separately or jointly?

The election to be taxed as a US resident carries over automatically when changing countries unless a revocation is made for a year prior to leaving the US. The revocation applies to the year...
Forum: USA
Feb 6th 2020, 5:11 pm
Replies: 24
Views: 2,231
Posted By theOAP

Re: Taxes: Moved to US on 30th December, do we file separately or jointly?

Unfortunately, as of yet, no one has released an app which accurately predicts the future.

Some may live the rest of their lives in the US as a US resident for tax purposes and never acquire US...
Forum: USA
Feb 4th 2020, 12:51 pm
Replies: 24
Views: 2,231
Posted By theOAP

Re: Taxes: Moved to US on 30th December, do we file separately or jointly?

On behalf of all those who have contributed, thank you for your kind words.
Forum: USA
Feb 4th 2020, 12:47 pm
Replies: 24
Views: 2,231
Posted By theOAP

Re: Taxes: Moved to US on 30th December, do we file separately or jointly?

Good catch, Jasskatten. Brain fade on my part. I used the wrong wording in my reply. I said "......the declaration and the election which commits the taxpayer to the requirement to always file MFJ in...
Forum: USA
Feb 3rd 2020, 7:55 pm
Replies: 24
Views: 2,231
Posted By theOAP

Re: Taxes: Moved to US on 30th December, do we file separately or jointly?

Perhaps some clarification may help.

The OP was a dual status alien, but if they file MFJ, they no longer can be treated as a dual status alien. It's not allowed for MFJ. Instead, and as you did,...
Showing results 1 to 25 of 1000
 
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