Hi,
I am a US citizen by birth but I always lived in Spain and I only used my Spanish passport. I never new anything about US taxes until a couple weeks ago when my bank in Asia (from where I just returned after working for 2 years), sent me an email asking me to sign a FATCA form and a W9 form. I have never had more than 16.000 dollars so I know it won´t affect FATCA, but I have just discovered it's obligatory to declare taxes to the US no matter where you live and I have never filled an FBAR or any other form. Now, I don´t know if they will fine me for not filling FBAR, but if I don´t sign, they might fine me for not allowing FATCA to explore my accounts? I have been searching for legal advice but nobody seems to know about it. I also only have 1 week to send the required documents. I would deeply appreciate some advice.
Thank you.
I am a US citizen by birth but I always lived in Spain and I only used my Spanish passport. I never new anything about US taxes until a couple weeks ago when my bank in Asia (from where I just returned after working for 2 years), sent me an email asking me to sign a FATCA form and a W9 form. I have never had more than 16.000 dollars so I know it won´t affect FATCA, but I have just discovered it's obligatory to declare taxes to the US no matter where you live and I have never filled an FBAR or any other form. Now, I don´t know if they will fine me for not filling FBAR, but if I don´t sign, they might fine me for not allowing FATCA to explore my accounts? I have been searching for legal advice but nobody seems to know about it. I also only have 1 week to send the required documents. I would deeply appreciate some advice.
Thank you.
Federal Taxes: Failure to File U.S. Tax Returns While Living Abroad
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