Oh wow I had no idea about this! I definitely had over $10k in my Korean bank accounts... is there a deadline for this form too? Is it the same as the regular tax deadline?

The FBAR deadline is technically April 15th (same as tax day), but there's an automatic extension to October 15th - you don't need to request it. File it as soon as you can though! It's filed electronically through the FinCEN BSA e-filing system, not with your tax return to the IRS. I'd also check if you need to file Form 8938 (Statement of Foreign Financial Assets) with your tax return if your foreign accounts exceeded certain thresholds. The requirements are different than FBAR and it goes with your tax return, not separately.

I think the 2024 FEIE amount is actually $126,500, but your point still stands! Also, make sure you file Form 2555 to claim it.

What about bank statements? Should I bring those too? I have most of my Amazon expense receipts saved but I'm not sure what else they might want to see related to my finances.

Yes, definitely bring your bank statements, especially ones showing your business expenses. The Revenue Officer will want to understand your complete financial picture. Bank statements help verify both your income sources and your expenses. Having those statements also helps with credibility - it shows you're being transparent and cooperative. Focus on the last 3 months at minimum, but if you have statements going back through the unfiled tax periods, those would be valuable to bring as well.

Valid point! I got a scam IRS letter once that looked super official. Real Revenue Officers will also have a badge and ID they can show you. And they never demand immediate payment during the first meeting.

So what about if there's a real business conference and I bring my kid who works for my business? Is any part of that deductible or is it all considered personal?

If there's a legitimate business conference and your child who legitimately works for your business has a valid business reason to attend, then their expenses related to the conference itself would be deductible as a business expense. This includes their registration, their portion of the hotel room during the conference dates, and their meals while attending business activities. However, if you extend the trip for sightseeing or vacation activities, those additional days would not be deductible. And any activities that are clearly personal in nature (like visiting tourist attractions or entertainment) wouldn't be deductible either, even during the business portion of the trip. The IRS looks at the primary purpose of each expense.

Your kids would only have to file taxes if their income exceeds the standard deduction (which is $13,850 for 2025). So if they make less than that, they typically don't have to file a federal return. But you still need to keep proper payroll records, issue them a W-2, and follow all employment laws.

Thanks for the warning! Did you have to do anything special to get it fixed when the payments stopped? Or just call the IRS? I'm definitely going to mark my calendar to check after each payment date now.

I had to call the IRS, which was a complete nightmare - took three days of trying before I got through. They claimed my bank had rejected the withdrawal (which wasn't true - my bank had no record of any attempt). They had to set up the whole payment plan again, and I had to pay an additional fee for the "reinstatement" even though it was their error. The most frustrating part was they had my current contact info but never tried to notify me until after I had technically defaulted. My advice is to check your bank account AND your IRS account online every month, and if you see any issues, deal with them immediately before they snowball.

Setting up an installment agreement before the filing deadline counts as meeting your obligation. The agreement itself is considered timely, even if the first payment comes later. There will still be some interest and smaller penalties, but you avoid the big failure-to-file penalty. It's like telling the IRS "I acknowledge I owe this and commit to paying on this schedule" rather than ignoring the debt. As long as you keep making the agreed payments, you're in compliance.

4 Do you know if there's an easy way to get copies of old returns if you didn't save them? I can't find my 2022 return anywhere and I'm worried I'll need it.

21 You can request tax transcripts directly from the IRS website through their "Get Transcript" service. They offer several types, but what you'll want is the "Tax Return Transcript" which shows most of the line items from your original tax return, including your AGI. You can get these online immediately if you create an account on the IRS website, or request them by mail which takes about 5-10 business days. The online method requires more verification steps but gives you instant access. It's totally free either way and is the official solution for when you don't have copies of your previous returns.

6 I've used TaxAct for the past 3 years including one late filing. It handles penalties automatically and was way cheaper than TurboTax. The interface isn't as pretty but it gets the job done and has all the same features that matter.