My Latest Taxes Update

By: Pete
Date posted: 05.10.2012 (10:32 am) | Write a Comment  (0 Comments)

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For those who are reading this blog for the first time, I presented my situation as an expat American living in Canada who was not aware of my duty to report revenues to the IRS. I eventually decided to file myself, explaining the forms and process that I ended up taking. Then, I received a letter from the IRS describing how I owed nearly $10,000 for my 2010 taxes. Shocking. It had to be a mistake right? I was convinced it did of course so I contacted the IRS to straighten out everything. The problem was trying to speak to the right person in order to rectify my things, which proved to be a major challenge.

My Latest Update

As discussed, I decided to contact a professional accountant specialized in cross-border taxation in order to get my situation resolved. The person I hired ended up finding a few things that needed to be corrected in my 2010 filing and also helped out with my 2011 filing. Needless to say that I was relieved to see that he agreed that I would not owe any money.

What’s Next?

The first step for me will be to send my amended filings to the IRS, I will then contact them 10 days later or so in order to confirm that they did receive my amended filing

Hopefully, I will then receive a confirmation from the IRS of the amount owed (0$)

I will then look into the corrections that were made and discuss those on this blog! Make sure to sign up for the newsletter if you want updates!

Finally, as discussed, I will also be working on the declaration of my financial assets that must be declared to the US Treasury

Once all of that is done, I might try to work on a more descriptive post on filing taxes as an expat although it’s always tricky given the differences from one individual to another.

Some of you have contacted me regarding your own situations, I’d love to hear what your status is and if you’ve had any adventures during your process.

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