Tax Issues for U.S. Residents and Foreign Nationals

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Subject:		Returning to the USA
Name:		Jonathan
Date Posted:		May 11, 08 - 11:08 AM
Email:		jsilo1979@gmail.com
Message:		Hello, I am a 25 year old American citizen living in Israel since childhood. I have never filed an IRS form. Until last year, I was working in minimum wage jobs, so my income was very low. In January 2007, I started my own business, which began only now (in 2008) to generate income, but I have had a lot of expenses so I have generated "losses" for tax purposes in Israel. I will be moving back to the USA in 3 months, and would like to move my business there, hopefully transferring the generated losses as well. My questions are: 1. Can / should IRS forms for previous years be still filed, claiming ~0 income? 2. For 2007, should I file as an individual or as a business? and does it matter in terms of the losses I would like to keep when restarting my business in the USA? How do I transfer the business' losses to the USA? Thank you for your help! Best regards, Jonathan Silo
Replies:
Re: Returning to the USA by Gary W. Carter · May 15, 08 - 5:41 PM

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