First US tax return and FBAR
Jul 25th 2018, 1:55 pm
#1
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Joined: Oct 2016
Location: Los Altos hopefully
Posts: 28
First US tax return and FBAR
Hi we arrived in the US on the 28th Dec 2017 although my Wife didn’t start work till January 2nd 2018 I would like to know when we fill in our first US tax return and I believe we need to fill in a FBAR,I have a feeling we should have filled in the FBAR already, I hope not!
We are now based just south of San Jose originally we moved to Los Altos, lovey but very expensive. Does anyone have a recommendation on a good Tax accountant ?
Thanks,
Andy
We are now based just south of San Jose originally we moved to Los Altos, lovey but very expensive. Does anyone have a recommendation on a good Tax accountant ?
Thanks,
Andy
Jul 25th 2018, 1:59 pm
#2
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Thread Starter
Joined: Oct 2016
Location: Los Altos hopefully
Posts: 28
Re: First US tax return and FBAR
Hopefully someone can delete the other 3 posts that my stupid IPad made happen, the keyboard froze, and hopefully I will get some useful info on my proper post.
Jul 25th 2018, 2:12 pm
#3
i hate cabbage
Joined: Mar 2015
Location: Fort Worth, TX
Posts: 438
Re: First US tax return and FBAR
Your first Tax return will be next year. Employers distribute the W2's by the 31st Jan and then you can file your taxes once you have your W2.
FBAR i can't speak to, but someone will be along soon.
FBAR i can't speak to, but someone will be along soon.
Jul 25th 2018, 3:23 pm
#4
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Re: First US tax return and FBAR
Thx.
Jul 25th 2018, 4:24 pm
#5
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Joined: Jan 2006
Location: San Francisco
Posts: 12,865
Re: First US tax return and FBAR
Hi we arrived in the US on the 28th Dec 2017 although my Wife didn’t start work till January 2nd 2018 I would like to know when we fill in our first US tax return and I believe we need to fill in a FBAR,I have a feeling we should have filled in the FBAR already, I hope not!
We are now based just south of San Jose originally we moved to Los Altos, lovey but very expensive. Does anyone have a recommendation on a good Tax accountant ?
We are now based just south of San Jose originally we moved to Los Altos, lovey but very expensive. Does anyone have a recommendation on a good Tax accountant ?
Last edited by Giantaxe; Jul 25th 2018 at 4:26 pm.
Jul 25th 2018, 6:08 pm
#6
Joined: Apr 2005
Location: Milwaukie, Oregon
Posts: 9,965
Re: First US tax return and FBAR
If you were resident during 2017 - which it sounds like you were - and had over the $10k threshold in foreign accounts at any point in 2017, you needed to file an FBAR for 2017 - due on April 15th of this year. I suspect some will argue that only the time period you were resident applies for that $10k threshold...
However as he missed the April 15th deadline he gets an automatic extension until October 15th, so has a few months to get it done. Third paragraph confirms https://www.irs.gov/businesses/small...-accounts-fbar
Jul 25th 2018, 8:40 pm
#7
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Posts: 902
Re: First US tax return and FBAR
The FBAR is due to be filed by 15 October. It reports all non-US bank and financial accounts. Many folks forget things like UK pension plans which are frequently FBAR reportable.
