I'm planning to renounce my US citizenship?
Hello, I'm 28 years old, I did a tax froud 5 years ago by claiming two kids that are not my relatives, I'm in Mexico right now (I don't want to go to jail) that's why I'm here in Mexico, I'm planning to renounce my US citizenship next year, and I want to amend my fraudalent tax return whenever I turn 65 so that way I'll have money to pay back the amount I took as an eic from the kids I claimed in 2015 can I do so???
I am in a lot of stress, I'll pay the $8,000 from when I received that amount and I'll accept the bill and penalties, I'll pay that amount whenever I'll turn 65 and get my SS retirement
I don't want to go to jail!!
Can I do so??? Amend a tax return 40 years later???
- A HunchLv 71 month agoFavourite answer
If it's been 5 years and the IRS is not coming after you, you are in the clear.
If you have been caught, create a payment plan with the IRS.
You aren't going to jail for this.
You don't need to renounce your citizenship.
- STEVEN FLv 71 month ago
Renouncing your citizenship won't get you out of both criminal and civil liability for ANYTHING.
- RICKLv 71 month ago
How does turning 65 give you money?
If you renounce your citizenship you forfeit your SS
- Max HooplaLv 71 month ago
IRS will not make a criminal case out of claiming two kids that aren't yours. If they haven't proposed any additional tax in five years they are not going to do so now. You can come back.
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- JudyLv 71 month ago
When you find that you have dug yourself into a hole, don't keep digging.
No you can't amend a 40 year old return.
What you owe by then would have grown a lot, with penalties and interest.
WHAT social security do you think you'd have?
What do you think renouncing your citizenship would do for you?
- EvaLv 71 month ago
That's not the way it works. You have 3 years from the date of filing to amend. You're already past that for a 2015 return. You could have fixed this a long time ago and they don't put people in jail for that particular offense. You simply have to pay the tax you owe. It's foolish to even consider renouncing your citizenship over this issue.
- SlickterpLv 71 month ago
You cannot amend a return 40 years later, no. Renouncing your citizenship does not change the debt you already owe.
- SumDudeLv 71 month ago
Amend the returns now and pay the correct amount. The IRS prefers money over putting people in jail.
- Anonymous1 month ago
There is something wrong with you.