Part 1:
I moved out of the US late 2003 to start a business outside the US. After consulting with a tax preparer, I made a big chunk of Tax payment in Dec and received a big refund in 2004. In filing 2004 I didn’t owe any taxes since I didn’t meet the foreign earned income credit limit and I didn’t pay any taxes.
Part 2:
I closed the business at a loss in 2005 and haven’t filed Taxes since 2005 since I am not meeting the foreign earned income credit limit.
Are there any implications to part one? Such penalty..etc
Are there any implications to not filing after 2004 since I didn’t owe any taxes?
If I have to file, can I included my foreign business loss even though I moved to another country with my family and kids
Thanks
I moved out of the US late 2003 to start a business outside the US. After consulting with a tax preparer, I made a big chunk of Tax payment in Dec and received a big refund in 2004. In filing 2004 I didn’t owe any taxes since I didn’t meet the foreign earned income credit limit and I didn’t pay any taxes.
Part 2:
I closed the business at a loss in 2005 and haven’t filed Taxes since 2005 since I am not meeting the foreign earned income credit limit.
Are there any implications to part one? Such penalty..etc
Are there any implications to not filing after 2004 since I didn’t owe any taxes?
If I have to file, can I included my foreign business loss even though I moved to another country with my family and kids
Thanks