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Help with IRS

Chile Investment, how to invest in Chile, what to watch out for when investing, economic issues, currency exchange in Chile, and more.

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Help with IRS

Postby cneilson on Sat Apr 12, 2008 8:22 pm

Hi, I'm filing my taxes for the first time, and I'm going a bit crazy! (BTW we could outsourse the IRS to Chilean SII...its a lot easier to get through!)

First of all, do any of you e-file from Chile? If so can you recommend a specific web service? I've tryed a few but none seem to be equiped to deal with my specific set of circumstances (foreign income, alien dependants, etc)

So far i've filled out forms 2555/EZ and 1040. I don't know what to do about the W-2 form because my employer has no US tax number which is required on this form. Is there a "foreign" W-2?

Well thanks a lot for your help :P , and if i'm way off, please let me know where I can get help in Santiago, Chile.
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Re: Help with IRS

Postby eeuunikkeiexpat on Sat Apr 12, 2008 8:53 pm

I've personally e-filed using TaxAct dot com because:

(1) They allow filing with a foreign snail mail address (many others require a USA address when filling out the online 1040)
(2) They had the proper auto calculated form for reporting income from futures contracts and options on futures contracts (which again not all services have online)

Check them out to see if they have the electronic forms you need.
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Re: Help with IRS

Postby admin on Sat Apr 12, 2008 8:56 pm

I feel your pain. The Chilean income tax system is so easy to use.

I am in no way a U.S. tax expert ( very far from it); however, I do not believe your employer needs a tax payer id number for you to file a 2555. You should not need a w-2 form from your employer, and I don't remember ever seeing anything requesting one on the form. You likely want to hang on to any contracts you might have that layout your employment terms and payment stubs and such, but that should do the trick as far as evidence is concerned.

For example, I am employed by a Chilean company I own and I am not required to issue a W-2 to myself as far as I know as an employee of that company because it is not an American company subject to U.S. jurisdiction to claim my income exclusion on form 2555. They do ask for name and address, plus some other stuff regarding your employer on the form.

I think it is H&R block that has online efile that can handle the foreign payments. You can fill out there form, and test everything, and you do not pay until the last steps when you are happy with everything.

Personally I prefer to do everything with a very cryptic quill and ink to encourage lazy auditors to leave me alone. 8_0
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Re: Help with IRS

Postby cneilson on Sat Apr 12, 2008 9:56 pm

Thanks! I will use the old quill trick too!



So I just send the 1040 and the 2555?

Thanks again for the help!
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Re: Help with IRS

Postby El Zorro on Sun Apr 13, 2008 1:46 pm

To get an overview of your options, go to the IRS site (http://www.IRS.gov/). It has some guidelines on how to file on-line for free (Use Free File to Prepare Your Taxes) and what services to go with, especially because some have prerequisites as far as income and age of filer. Also, check out the link for “Foreign Earned Income Tax Worksheet Revised” under “Tax Law Changes,” which is accessed by clicking on “Visit 1040 Central.” Besides, it seems you have to do free filing through the IRS site.
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