- Thread starter Mr. ManInDR
- Start date
Question regarding Amercian citizens
Mike She is a legal resident in the DR , DR taxes are being withheld from her salary , She is an American citizen , that so far has only earned salaries in the DR . Her status here is legal , She only wants now that the bank had handed her that W9 to fill in , to regularize her situation with the ISR
Enviado desde mi iPad utilizando Tapatalk
Enviado desde mi iPad utilizando Tapatalk
Yes indeed She was born and raised in USA up to her 13th birthday
Enviado desde mi iPad utilizando Tapatalk
Enviado desde mi iPad utilizando Tapatalk
I am not so sure about that. As I believe you have to apply for one. Maybe someone else knows about this.
Dulce How could I move this to the legal section . She is certainly an American citizen in need of help , I know some stuff about DR taxes and She is a coworker of mine , She asked me for help I am just trying to help Her to avoid the bank close her account because if that happen she won't be able to receive her salary . I have a copy of her passport and also her SS number
Enviado desde mi iPad utilizando Tapatalk
Enviado desde mi iPad utilizando Tapatalk
A moderator will have to move it for you. As soon as one sees this they will most likely move it for you.
Do you think the IRS checks out how much everyone that fills out a form makes per year in another Country? Think about that. How many people would they need to check on all of these forms with everything else they need to do in the US?
Believe me the IRS is way overrated. Most Americans fold up like an accordion when they hear IRS. They are not as powerful as you think. They get by on reputation.
Are you looking for help with Dominican law or American law? I presume the bank is in DR, but you're asking questions about American tax returns.
Hello alter ego . Thanks for your interests . The bank is in DR , and because of FATCA that bank is asking my friend to fill the form W9 , since I have explained She is an American Citizen living and working in DR . She doesn't have any tax issues here in DR because she is an government worker and her taxes are payroll withheld . The question is what would be the implications after she files the form asked for the RD bank providing her SS number , and the bank send that information to the ISR ? I know that she must have had filed her federal taxes since she began to earn money here in DR , but as she have missed doing so I Wonder how many prior years of federal taxes she needs to file in order to comply with AMERICAN Ferderal tax laws
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
I am sharing with You all a response I got from a tax expat forum . Maybe could be helpful to someone else in need of information
BBCWatcher's Avatar
BBCWatcher BBCWatcher is offline
Member
Join Date: Dec 2012
Location: Singapore
Posts: 4,648
Rep Power: 290
BBCWatcher
442 likes received
18 likes given
Users Flag! Originally from usa. Users Flag! Expat in singapore.
Default
Her bank is presumably requiring her to fill out a W-9 form if she's a U.S. citizen. So that's step one, to comply with the bank's requirements and to answer their questions truthfully. (Unless she doesn't mind having her account closed.)
Next step, reasonably promptly: If the total value of her non-U.S. accounts ever reached US$10,000, she should file FinCEN Form 114 for 2009, 2010, 2011, 2012, 2013, and 2014 (the past 6 years), though she can skip any year when the total value of her non-U.S. financial accounts did not exceed US$10,000. She should count all accounts over which she has "signature authority" toward the total, including joint accounts and any company, club, or association accounts where she can sign (as company or club treasurer, for example). She is late filing those mandatory reports (if she meets the threshold), but we have not heard reports of the U.S. Treasury Department penalizing those who have stepped forward voluntarily and filed late as long as they file truthful, complete reports with a truthful excuse. (The form itself allows selecting a reason for late filing. There's an "I didn't know" or similar choice available, and it's a popular one.)
Finally, if she genuinely owes zero U.S. tax then the penalty for non-filing or late filing a U.S. tax return is zero. So if she's highly confident that's her reality then "no rush." But if she has even a little doubt (or perhaps even if she doesn't) then it would be prudent for her to take advantage of the IRS's Streamlined Program to get caught up, then to continue filing normally going forward. One reason she might want to file anyway is if she has U.S. citizen children. Then she may be eligible to collect free money from the IRS, the Additional Child Tax Credit, depending on her tax and income situation.
Note that the U.S. does not have a social security treaty with the Dominican Republic. If she was/is self-employed then she should have been paying the U.S. Self-Employment Tax -- and earning U.S. Social Security retirement credits and becoming eligible for free U.S. Medicare Part A, importantly. The Streamlined Program might not be the best way to get current if she owes Self-Employment Tax for many years going back even as far as 1979 and if she highly values U.S. Social Security benefits -- a reasonable thing to do since they are valuable. But "it depends." If she has never been self-employed it's a moot issue.
Enviado desde mi iPad utilizando Tapatalk
BBCWatcher's Avatar
BBCWatcher BBCWatcher is offline
Member
Join Date: Dec 2012
Location: Singapore
Posts: 4,648
Rep Power: 290
BBCWatcher
442 likes received
18 likes given
Users Flag! Originally from usa. Users Flag! Expat in singapore.
Default
Her bank is presumably requiring her to fill out a W-9 form if she's a U.S. citizen. So that's step one, to comply with the bank's requirements and to answer their questions truthfully. (Unless she doesn't mind having her account closed.)
Next step, reasonably promptly: If the total value of her non-U.S. accounts ever reached US$10,000, she should file FinCEN Form 114 for 2009, 2010, 2011, 2012, 2013, and 2014 (the past 6 years), though she can skip any year when the total value of her non-U.S. financial accounts did not exceed US$10,000. She should count all accounts over which she has "signature authority" toward the total, including joint accounts and any company, club, or association accounts where she can sign (as company or club treasurer, for example). She is late filing those mandatory reports (if she meets the threshold), but we have not heard reports of the U.S. Treasury Department penalizing those who have stepped forward voluntarily and filed late as long as they file truthful, complete reports with a truthful excuse. (The form itself allows selecting a reason for late filing. There's an "I didn't know" or similar choice available, and it's a popular one.)
Finally, if she genuinely owes zero U.S. tax then the penalty for non-filing or late filing a U.S. tax return is zero. So if she's highly confident that's her reality then "no rush." But if she has even a little doubt (or perhaps even if she doesn't) then it would be prudent for her to take advantage of the IRS's Streamlined Program to get caught up, then to continue filing normally going forward. One reason she might want to file anyway is if she has U.S. citizen children. Then she may be eligible to collect free money from the IRS, the Additional Child Tax Credit, depending on her tax and income situation.
Note that the U.S. does not have a social security treaty with the Dominican Republic. If she was/is self-employed then she should have been paying the U.S. Self-Employment Tax -- and earning U.S. Social Security retirement credits and becoming eligible for free U.S. Medicare Part A, importantly. The Streamlined Program might not be the best way to get current if she owes Self-Employment Tax for many years going back even as far as 1979 and if she highly values U.S. Social Security benefits -- a reasonable thing to do since they are valuable. But "it depends." If she has never been self-employed it's a moot issue.
Enviado desde mi iPad utilizando Tapatalk
I found a similar situation how it is being solved http://www.expatforum.com/expats/ex...st.html#/forumsite/20560/topics/875450?page=1
Sent from my iPhone using Tapatalk
Sent from my iPhone using Tapatalk
Post #36 seems to answer the question. Moving this to Legal would accomplish nothing, because our legal expert is a Dominican attorney.
Why is it a problem?
You are allowed to have a bank account.
It DOES not need to be declared under $10K.
The problem is not filing 25 years of tax returns, just ignore the IRS if they ever come close to contacting your girl.
You are allowed to have a bank account.
It DOES not need to be declared under $10K.
The problem is not filing 25 years of tax returns, just ignore the IRS if they ever come close to contacting your girl.
All banks are getting tighter....everywhere
Some are calling in companies that have shares issued in 'Bearer' form.
They want the owners designated.
Some are calling in companies that have shares issued in 'Bearer' form.
They want the owners designated.