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Ask Lane Your Own Question
Category: Finance
Satisfied Customers: 11997
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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A messy tax situation that I want to resolve: Since I

Customer Question

A messy tax situation that I want to resolve: Since I finished school, I have been overseas for 8 years (until 2011) and didn't file any tax return. I don't owe any tax but I don't have much records to show. While in UK, I was working on a startup company
and paid no taxes there either. When I wrote to the IRS to ask for my data, they have no records on me. Additionally and more importantly, the last 3 years I have been living from my company account from overseas. That company consider my payments as expenses.
Thank you
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.



Don't want to make light here, but you may not really HAVE a tax problem


Since (1) the IRS only keeps records for 7 years, (2) has no 1099s or W-2s that would indicate that you owe (that's how they keep track of those that DO have income and don't pay)... and (3) under the UK/US tax treaty taxes, are paid based on where you reside ...


I'm not so sure you HAVE a problem