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Submitted 346 days ago...

Vallartagal

Vallartagal

New User (2)

Making first tax filing in 20+ years having lived in Mexico the entire time.

Hello - I want to file a tax report this year and I haven't filed in 22 years - the entire time I've lived in Mexico. I'm a 47 yr. old single Mom (child 17)who has not really earned an income in that time. My son had health problems and my boyfriend paid our bills. However, I have been hired for a great job here in Mexico, and I also am the beneficary of an IRA from my mother who just passed away in the amount of 16,500 US. My job will begin in Jan. '08 - the IRA beneficiary account came to me in Dec. '07.
How do I go about filing after such a long gap? Will there be penalties? I have no assets - 100 in the bank, a 17 yr. old car, and no real-estate.
Thanks for your help.

 
 
 
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Answer 1 / 4

Submitted 346 days ago...

Ruchele

Ruchele

Brain (3,118)

The IRS is gonna love you. You are not exempt from filing your taxes just because you live out of the country. I would hire a tax pro, and expect an audit.

 

Answer 2 / 4

Submitted 346 days ago...

RunnerGuy

RunnerGuy

Contributor (176)

I agree with Ruchele. The chances of you being audited this year are pretty good. I would have an account and/or tax pro handy to do your taxes and be available for any audit.

 

Answer 3 / 4

Submitted 346 days ago...

Vallartagal

Vallartagal

New User (2)

Hey, It's Valalrtagal again. I understand I'll be under scrutiny, but I really didn't have any discernible income any of those years. How do you prove you didn't earn any money, other than not having assets?
Thanks,
Vallartagal

 

Answer 4 / 4

Submitted 346 days ago...

sidelko

sidelko

Brain (3,031)

Perhaps having some sort of work or other documentation proving that you were in Mexico not really earning much will be all that you need.

 

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Ruchele

Ruchele

Brain (3,118)

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