time to file US tax for some of you.

[VIPinthailand]

for some of you, especially USA farang, do not forget to file your tax report and fbar before end April.

if not, say bye bye to 50% of your asset.

fbar is end of June, 2 more months.

I don't file anything but I just want warn you.

don't try to trick the system, many count on your money for their food stamps.

[Jingthing]

Expats get an automatic extension on FILING of two months after April 15.

Any owed tax was already due April 15 -- the automatic extension is for filing only.

Yes, FBAR filings if you need to do that and many do, are due end of June.

Cheers, 'Murcans.

Edited April 25, 2015 by Jingthing

[JLCrab]

From IRS Publication 554: Table 1-1. 2014 Filing Requirements Chart for Most Taxpayers

Note. You must file a return if your gross income was at least the amount shown in the last column. .

Single under 65 $10,150

65 or older $11,700

Head of household under 65 $13,050

So, if under those amounts, no filling is required. Also no FBAR required if you never had greater than $10,000 at any time in your total non-USA bank accounts at any time during the year.

Edited April 25, 2015 by JLCrab

[Jingthing]

From IRS Publication 554: Table 1-1. 2014 Filing Requirements Chart for Most Taxpayers

Note. You must file a return if your gross income was at least the amount shown in the last column. .

Single under 65 $10,150

65 or older $11,700

Head of household under 65 $13,050

So, if under those amounts, no filling is required. Also no FBAR required if you never had greater than $10,000 at any time in your total non-USA bank accounts at any time during the year.

That's true that not everyone needs to file but if you do need to file the deadline is two months after April 15 if living abroad.

[JLCrab]

True JT, but in the helpful spirit of the OP I just wanted others to know that the OP isn't the only one who doesn't have to file. Me? -- I just take a loss each year from my house being destroyed by a tornado.

Edited April 25, 2015 by JLCrab

[noise]

Expats get an automatic extension on FILING of two months after April 15.

Any owed tax was already due April 15 -- the automatic extension is for filing only.

Yes, FBAR filings if you need to do that and many do, are due end of June.

Cheers, 'Murcans.

The follow quote from Publication 54 Tax Guide for U.S. Citizens and Resident Aliens Abroad For use in preparing 2014 Returns might be of interest to all U.S. expats.

":Automatic 2-month extension. You are allowed an automatic 2-month extension to file your return and pay federal income tax if you are a U.S. citizen or resident alien, and on the regular due date of your return: You are living outside the United States and Puerto Rico and your main place of business or post of duty is outside the United States and Puerto Rico, or You are in military or naval service."

[Jingthing]

Thanks for that correction.

[mesquite]

From the OP:

"for some of you, especially USA farang, do not forget to file your tax report and fbar before end April.

"if not, say bye bye to 50% of your asset."

I have no intention of filing a FBAR before the end of April. I have never filed a tax report and never will. I don't know anyone who has.

I will not lose any of my assets.

The OP is full of it with this misinformation. He must have just gotten home from the bars when he wrote his post.

Edited April 26, 2015 by mesquite

[blueyeshk]

To the experts in here one question: I am a European, Hong Kong resident and have an stock account in the U.S. Any form I need to fill out to reclaim avoid taxation? Thanks for a hint.

Edited April 26, 2015 by blueyeshk

[NancyL]

From the OP:

"for some of you, especially USA farang, do not forget to file your tax report and fbar before end April.

"if not, say bye bye to 50% of your asset."

I have no intention of filing a FBAR before the end of April. I have never filed a tax report and never will. I don't know anyone who has.

I will not lose any of my assets.

The OP is full of it with this misinformation. He must have just gotten home from the bars when he wrote his post.

Mesquite, I think the OP is mis-informed when he claims you'll lose 50% of your assets if you fail to file when you should, but there can be repercussions for failing to file when you should. Maybe not right away, but they can occur. Perhaps when you go to apply for a new passport. Or perhaps when your Thai widow goes to close your U.S. financial accounts after your death and discovers the I.R.S. has an interest in them.

I know dozens of U.S. citizens who live in Thailand and continue to file with Uncle Sam each year. It's just not a good idea to ignore your responsibilities. Eventually it will catch up with you or your heirs if you don't.

[noise]

From the OP:

"for some of you, especially USA farang, do not forget to file your tax report and fbar before end April.

"if not, say bye bye to 50% of your asset."

I have no intention of filing a FBAR before the end of April. I have never filed a tax report and never will. I don't know anyone who has.

I will not lose any of my assets.

The OP is full of it with this misinformation. He must have just gotten home from the bars when he wrote his post.

Whether or not the OP's words are exactly correct or not, your reply confuses me. The U.S. tax laws seem to say what the OP wrote. Perhaps if you explained why none of it applies to you it might help the rest of us. Of course, if you are simply ignoring it all........................different story

[CharlieH]

Wrong forum

MOVED to Home Country

[mesquite]

From the OP:

"for some of you, especially USA farang, do not forget to file your tax report and fbar before end April.

"if not, say bye bye to 50% of your asset."

I have no intention of filing a FBAR before the end of April. I have never filed a tax report and never will. I don't know anyone who has.

I will not lose any of my assets.

The OP is full of it with this misinformation. He must have just gotten home from the bars when he wrote his post.

Whether or not the OP's words are exactly correct or not, your reply confuses me. The U.S. tax laws seem to say what the OP wrote. Perhaps if you explained why none of it applies to you it might help the rest of us. Of course, if you are simply ignoring it all........................different story

It's called a tax return, not a tax report.

The FBAR needs to be filed by June 30.

The tax return, as has been pointed out, needs to be filed by June 15th if you live outside the US.

Failing to file any of these forms, or the imaginary tax report, by the end of April will not result in any penalty, let alone the loss of 50% of your assets.

I would hate to hear of someone working feverishly for the next 4 days to meet this imaginary deadline.

Edited April 26, 2015 by mesquite

[2fishin2]

Why is a non- US citizen worrying about US taxes? This post is stupid

[NancyL]

Interesting that you can't use the "Quote" function with an Original Post. So, I'll use Copy and Paste:

or some of you, especially USA farang, do not forget to file your tax report and fbar before end April.
if not, say bye bye to 50% of your asset.
fbar is end of June, 2 more months.
I don't file anything but I just want warn you.
don't try to trick the system, many count on your money for their food stamps.

I put the "quoted" portion in italics.

Let's see now. I've had another chance to study it.

If we're to believe the OP -- I guess U.S. citizens of color don't have to worry about filing a "tax report" (what ever that is) or a fbar, by which I think he means the Financial Reporting requirements for U.S. citizens who have bank accounts abroad that total more than $10,000 at any time during the year.

Where the "end of April" deadline came from is a complete mystery. Ever since I can remember, April 12-15 was crunch time in our household as dear old Dad worked on the family tax returns with documents spread all over the ping pong table and I've continued the tradition here in Thailand, only with our computer and the bed for spreading out the documents because I can get the job done in a couple hours vs. three or four days.

I don't think the gov't is going to take 50% of the bank accounts if I fail to file the FBAR reports, but I could be wrong. I'd bet on me, not the OP. I'm not even going to bother to spend 30 seconds looking that up on Google.

And I doubt that food stamps account for a sizable portion of federal spending.

Edited April 26, 2015 by NancyL

[Tywais]

Expats get an automatic extension on FILING of two months after April 15.

Any owed tax was already due April 15 -- the automatic extension is for filing only.

Yes, FBAR filings if you need to do that and many do, are due end of June.

Cheers, 'Murcans.

The follow quote from Publication 54 Tax Guide for U.S. Citizens and Resident Aliens Abroad For use in preparing 2014 Returns might be of interest to all U.S. expats.

":Automatic 2-month extension. You are allowed an automatic 2-month extension to file your return and pay federal income tax if you are a U.S. citizen or resident alien, and on the regular due date of your return: You are living outside the United States and Puerto Rico and your main place of business or post of duty is outside the United States and Puerto Rico, or You are in military or naval service."

You still must pay by April 15 or else you will incur penalties/interest for late payment. How do I know? It happened to me two times in a row when I filed and payed taxes due after April 15 but before June 15. This year I payed via one of their recommended online payment processors before April 15 but will send my forms in shortly.

[noise]

Twais

Interesting. The IRS tried to claim said penalty and interest on me about 6 years ago but I protested quoting IRS Pub 52 with page and paragraph and had their finding reversed. Since then I have had no problem nor do any of the 5 or 6 people I help with taxes.

[Tywais]

Twais

Interesting. The IRS tried to claim said penalty and interest on me about 6 years ago but I protested quoting IRS Pub 52 with page and paragraph and had their finding reversed. Since then I have had no problem nor do any of the 5 or 6 people I help with taxes.

It surprised me too and thought the tax due and filing due date where the same. After the 2nd time I dug into the regulations deeper and the instruction form for the 1040 and on their website it says this.

"However, even if you are allowed an extension, you will have to pay interest on any tax not paid by the regular due date of your return (April 15 for calendar year taxpayers)." US Citizens abroad and here

But since I found out how easy it was to use their authorized payment provider I got it paid in time this year.

[Pib]

Interesting. The IRS tried to claim said penalty and interest on me about 6 years ago but I protested quoting IRS Pub 52 with page and paragraph and had their finding reversed. Since then I have had no problem nor do any of the 5 or 6 people I help with taxes.

No such thing as IRS Pub 52...maybe you meant IRS Pub 54, Tax Guide for U.S. Citizens and Resident Aliens Aboard. Per page 36, paragraph Interest and Penalties:

Penalties and Interest

1) Does the June 15 extended due date for filing my return because both my tax home and my abode are outside the United States and Puerto Rico on the regular due date relieve me from having to pay interest on tax not paid by April 15?

No. An extension, whether an automatic extension or one requested in writing, does not relieve you of the payment of interest on the tax due as of April 15 following the year for which the return is filed. The interest should be included in your payment.

But maybe your specific situation was different from the basic rule being talked about.

[VIPinthailand]

fine start at 500$ for violation of non reporting fbar then can go up to 50 percent of your asset seized and jail time.

don't mess with the USA. you still need a USA passport and you will go home eventually. this is serious matter. remember what kennedy said "it's not... Bla bla"

Edited April 30, 2015 by VIPinthailand

[JLCrab]

"We don't pay taxes. Only the little people pay taxes."

Attributed to Leona Helmsley at her tax evasion trial. She was convicted and spent 19 months in prison but was still worth $US 8 billion at her time of death in 2007.

[VIPinthailand]

this is tax evasion. don't be confused with tax avoidance which is legal for non US person only.

[Sheryl]

You do have to pay any tax due by April 15 and that includes self employment tax where applicable. I got hit with a penalty last year for paying a month or so late.

[JLCrab]

this is tax evasion. don't be confused with tax avoidance which is legal for non US person only.

I would disagree that tax avoidance is not only available to non-US persons. From Wikipedia on The Howard Hughes Medical Institute (HHMI) :

Initially, the institute was formed with the stated goal of basic research including trying to understand, in Hughes' words, "the genesis of life itself." Despite its principles, in the early days it was generally viewed as largely a tax haven for Hughes' huge personal fortune. Hughes was the sole trustee of HHMI and transferred all his stock of Hughes Aircraft to the institute, in effect turning the large defense contractor into a tax-exempt charity

Edited May 8, 2015 by JLCrab

[gk10002000]

Twais

Interesting. The IRS tried to claim said penalty and interest on me about 6 years ago but I protested quoting IRS Pub 52 with page and paragraph and had their finding reversed. Since then I have had no problem nor do any of the 5 or 6 people I help with taxes.

It surprised me too and thought the tax due and filing due date where the same. After the 2nd time I dug into the regulations deeper and the instruction form for the 1040 and on their website it says this.

"However, even if you are allowed an extension, you will have to pay interest on any tax not paid by the regular due date of your return (April 15 for calendar year taxpayers)." US Citizens abroad and here

But since I found out how easy it was to use their authorized payment provider I got it paid in time this year.

Completely true. Don't confuse when one must file with when the taxes are DUE! Any taxes owed are due by April 15. Sure you may have filing extensions, but that does NOT change when the clock starts for penalty or interest if owed. That always starts on April 15.

[VIPinthailand]

Edited May 8, 2015 by VIPinthailand

[JLCrab]

*Inflammatory post edited out*

Didn't have to file 1040 this year -- income below reporting threshold.

Didn't file FBAR -- never had bank accounts outside USA at any time in excess (combined) of $10,000

Tell your hot Thai girlfriend she should find a guy with a good accountant.

Edited June 13, 2015 by Scott

[BudRight]

ok guys, have you filed and paid your tax to the US mafia(IRS) ? because I need some free money for an ebt card and an elite visa for Thailand

don't forget to report fbar end of June, I don't like cheaters. my hot Thai girlfriend need some money and just asked me last day to post on Thai visa to ask you to not forget your duties.

Didn't have to file 1040 this year -- income below reporting threshold.

Didn't file FBAR -- never had bank accounts outside USA at any time in excess (combined) of $10,000

Tell your hot Thai girlfriend she should find a guy with a good accountant.

Don't bother VIPinthailand, I already told her.

Edited May 22, 2015 by BudRight

[Rhys]

life is Thailand, way to live and be free of the irs...petty...be away with them..

[maewang99]

I didn't read through all of the posts but, on this topic, especially if you are going to mention the FBAR as well, you should mention what also may need to be filed but only if you were in Thailand for more than 180 days in the calendar year. Which 180 days do not have to be contiguous. A Thai tax return. If you hold any Thai securities in your own name (not in a nominee) such as when you use a local broker like Kim Eng or whatever...... you can get a whopper of a tax refund on corporate taxes paid ahead of any dividend on a Thai stock. It can be quite a bit of money. I've been filing Thai returns for 10 years, I only wish what I hold using US brokers wasn't held in nominee name. Chiangmai Revenue won't take anything but TSD receipts in our names, not in a nominee name.

Edited June 8, 2015 by maewang99