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Forum: USA
Apr 7th 2013, 8:22 pm
Replies: 27
Views: 1,718
Posted By chopper40

Re: Renting a British Home Whilst Living in California

Just to chime in, sounds like filing "Schedule E for supplemental income and loss" is the way to go. Bear in mind you have to take a depreciation over 40 years on the base cost of your house...
Forum: USA
Jul 5th 2011, 4:22 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

In your first post you said "I have properly reported all my taxable income" but then you have also said "I didn't tell the IRS I had something in Italy"

Remember as a US Legal Permanent Resident...
Forum: USA
Jul 5th 2011, 3:24 am
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Matteoc
If the only thing you have done is not file FBAR for 2004 to 2009 then see question 17 from the Q&A of the voluntary disclosure. If you have correctly filed and paid your taxes you are OK....
Forum: USA
Jun 22nd 2011, 10:35 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Useful tip: whenever you phone these bods have a pen and paper ready to write down their employee number. I think they are obliged to quote it. You can then quote them in an email and ask for ...
Forum: USA
Jun 18th 2011, 2:15 am
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

I have a similar situation:
I pay about $5/month for an insurance policy to pay off my mortgage on my flat in the UK if I die.
Yesterday i emailed [email protected] with the following question...
Forum: USA
May 4th 2011, 8:49 pm
Replies: 9
Views: 1,761
Posted By chopper40

Re: Getting a job in USA whilst still in the UK - after getting green cards

Rene
When I said
(and immigration hassles every time you tell the stern looking immigration man at the airport that you were just visiting the UK and you are arriving back in the USA, honest...
Forum: USA
May 4th 2011, 7:05 pm
Replies: 9
Views: 1,761
Posted By chopper40

Re: Getting a job in USA whilst still in the UK - after getting green cards

How exciting!



Do you mean that you have got your stamp in your passport? (Sorry I forget what it's called.. I-551 ??) ??
Do you still need to travel to USA within 6 months to get your visa...
Forum: USA
May 4th 2011, 6:36 pm
Replies: 7
Views: 2,805
Posted By chopper40

Re: UK- USA tax treaty

I called a very helpful tax adviser at the USA embassy in London. As stated above, cash ISA's are not tax free in the eyes of the IRS.

I have cash ISA savings in the UK and there is really no...
Forum: USA
Apr 15th 2011, 5:27 am
Replies: 15
Views: 6,726
Posted By chopper40

Re: Wells Fargo

I have WF too and I asked them to reduce that to $25. They did no probs. I got a charge $10 for manually moving it back on the same day. I complained and got it refunded.
Forum: USA
Apr 15th 2011, 5:16 am
Replies: 43
Views: 3,754
Posted By chopper40

Re: FLORIDA NEWBIE QUESTIONS

First up, I'd like to say I live in Florida and I love it!
It all depends on how adaptable you are. I can deal with heat and humidity, much like i dealt with miserable weather in UK! Having the...
Forum: USA
Apr 13th 2011, 1:46 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Celticgrid
Yes I did wonder if I was right to correlate the penalty logic to the reporting logic. I realise that this process has little logic! If someone got slapped with a penalty it would be on...
Forum: USA
Apr 13th 2011, 4:35 am
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

From the Voluntary Disclosure Q & A
http://www.irs.gov/businesses/international/article/0,,id=235699,00.html?portlet=7
Q37. If a taxpayer transferred funds from one unreported foreign account to...
Forum: USA
Apr 12th 2011, 2:32 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Also, Your IRS tax return is good to go so long as it is postmarked by the last filing date. FBAR must be recieved at the Treasury by the filing date.
Forum: USA
Apr 9th 2011, 3:34 am
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

JAJ I know that is the course of action to take now. I guess researching FBAR on the internet is a bit like to diagnosing an ailment using the internet. If you believed everything you read you'd...
Forum: USA
Apr 8th 2011, 10:28 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Susan
I quickly re-read your posts. If, like me you are also guilty of not accurately reporting everything on your 1040, then please get some good advice first. I say that because its on a case by...
Forum: USA
Apr 8th 2011, 9:50 pm
Replies: 11
Views: 2,733
Posted By chopper40

Re: US Capital Gains on Sale of UK Property

Giantaxe
What you say makes perfect sense. Why do they allow people to depreciate it in the first place? if it's possible, I wonder if its better not to take the depreciation??
Forum: USA
Apr 8th 2011, 8:16 pm
Replies: 11
Views: 2,733
Posted By chopper40

Re: US Capital Gains on Sale of UK Property

Yep, to confirm, its your purchase price, not valuation on date moving to USA.
I bought my flat 10 years ago and its doubled in price. Why would I want to pay CGT to IRS on that?? I have a year to...
Forum: USA
Apr 8th 2011, 7:20 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Gosh its been 2 months since I posted this thread. I can't even bear to think about the countless hours I have spent worrying about this.

My situation in the end boils down to not reporting on my...
Forum: USA
Apr 7th 2011, 3:45 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Where did that reply come from? I would certainly imagine that a cash ISA is reportable on the FBAR form. Stocks and Shares ISA is no doubt more complicated, but you have "signature authority" over...
Forum: USA
Apr 7th 2011, 1:47 pm
Replies: 195
Views: 67,682
Posted By chopper40

Re: Quiet disclosure of FBAR

Thanks Nun
Can i ask you to quote your info sourse on that.
I have tried to find out if cash ISA'a are treated as tax free by the IRS. Nobody seems to know. I have called the IRS helpline (nobody...
Forum: USA
Apr 4th 2011, 6:30 pm
Replies: 8
Views: 6,533
Posted By chopper40

Re: FBAR non resident spouse

what I meant was that the OP (and also OP's USC spouse) can claim the personal tax allowance in UK of GBP6745 (about $10400 at current exchange rates)

AND ALSO
OP's USC spouse claims standard...
Forum: USA
Apr 4th 2011, 5:05 pm
Replies: 8
Views: 6,533
Posted By chopper40

Re: FBAR non resident spouse

Moxie
Thanks for the correction...I never knew this.
So is it possible to have a "double whammy" in that you can have a tax free allowance in the UK at the same time as a tax free allowance in the...
Forum: USA
Apr 3rd 2011, 6:33 pm
Replies: 26
Views: 3,549
Posted By chopper40

Re: Travelling to UK with US native spouse.

I once traveled to Dublin from UK with my USC spouse on a Ryan air flight. We were there for a weekend city break. She got interrogated pretty harshly with the immigration officer. I was stood right...
Forum: USA
Apr 3rd 2011, 12:46 am
Replies: 7
Views: 2,368
Posted By chopper40

Re: Filing Late Federal Tax Returns & FBAR for CR-1

If you had a foreign account for only 1 day >$10000 you would have to file.
Were any of your accounts in joint names with a non-USC?
Forum: USA
Apr 3rd 2011, 12:37 am
Replies: 7
Views: 2,368
Posted By chopper40

Re: Filing Late Federal Tax Returns & FBAR for overseas USC

Search for the thread on here "FBAR delinquency and VDP"

You may have some stormy waters ahead. Even though you may have to only file 3 years for the purposes of the CR-1 visa, once you put...
Showing results 1 to 25 of 76
 


 
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