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doing tax returns in the US
Posted: Thursday, February 19, 2009 5:34 PM
Joined: 09/10/2008
Posts: 2

I am a US citizen and have lived abroad now since 2006. Unfortunately haven't filed a tax return from 2007, and now have to file for 2008. n. I need tax advice on how to file my taxes for the last 2 years. Do you know of any good accountants able to work with this sort of situation? Or where I should start looking? Thanks, Cynthia
Posted: Sunday, February 22, 2009 5:00 AM
Joined: 27/11/2008
Posts: 2

US citizens living abroad can file for "foreign income tax exemption" which puts $85K of your pay off limits to everything but self employment tax (10%)
You have to be out of the country 330 days per yer and meet some other tests as well.
When you find a tax preparer, ask them about it.
And be ready to pay the fines for not paying the year you didn't file.
Hope this helps!

Posted: Sunday, February 22, 2009 7:18 AM
You only pay a penalty if you owe money. Find a good tax person and you may not have to pay a penny but best to get on the right track now.