Looking for accounting firm for help with USA taxes
- Thread starter igotadose
- Start date
T McGibney
Registered User
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You'll probably have to provide more information to get a meaningful answer. What sort of US taxes for example?
I was looking to see if my query was answered previously on the forum and this was the closest I came to it.
So my OH was born in the US (spend the first few years of her life there) but has been resident / working in Ireland since.
We recently became aware of the requirement to file tax returns in the US (there is an amnesty and unlikely to be any tax due). We have got some advise and that was that we should proceed and do this (I suppose the only reason I would question this - the cost of getting someone to complete the returns etc is Not cheap)
My query is - in practical terms - is there any pro’s / cons to continuing and completing these backdated returns (3 years)
Our fear is that in attempting to be complaint (as well as the costs) it may put us on the radar for other assessments / requirements. The only thing to add is that we own a relatively large amount of US listed shares.
So my OH was born in the US (spend the first few years of her life there) but has been resident / working in Ireland since.
We recently became aware of the requirement to file tax returns in the US (there is an amnesty and unlikely to be any tax due). We have got some advise and that was that we should proceed and do this (I suppose the only reason I would question this - the cost of getting someone to complete the returns etc is Not cheap)
My query is - in practical terms - is there any pro’s / cons to continuing and completing these backdated returns (3 years)
Our fear is that in attempting to be complaint (as well as the costs) it may put us on the radar for other assessments / requirements. The only thing to add is that we own a relatively large amount of US listed shares.
Might this be relevant so?
Key Post - Be careful if you hold more than $60,000 in US equities
Of course what most people don't appreciate is that if you are not a US citizen or US resident and you hold more than $60,000 in US equities then US estate taxes apply to transfers between spouses on death. That's right if you die your spouse or civil partner would have to pay US Estate taxes...
www.askaboutmoney.com
Could be an issue if your OH doesn't have an Irish passport and then needs to renew their US passport
