Hi

I need someone experinced answers to my below queries, It helps me really to get out the solution.

I am on H1 Visa, My Wife & kids are not with me here in USA, they never visited to USA.

1. Is am eligible to claim tax expentions for my wife and children ?
2. Can I apply ITIN for my wife and children ?
3. If I plan to bring them this year in second quarter, can I claim at least after bringing
Them if not now.
4. According to my tax returns I owe IRS, what's the best way to get maximum
Ememptions, and what's the procedure to pay advance tax and applying for tax
Extension.


Thanks
Nagaraju.

You can file jointly with your wife and you both CHOSE to be treated as resident aliens. This will allow you to claim the $10,700 joint standard deduction plus two $3,400 personal exemption (for yourself and your wife) plus one $3,400 for your child PLUS the $1,000 Child Tax Credit.

The downside is that:
• you must WAIT to meet the Substantial Test before you can file, which means you must wait until 13 May 2008.
• you must declare ALL 2007 world-wide income.

There are two offsets available, by either claiming a Foreign Tax Credit (Form 1116) or a Foreign Income Exclusion (Form 2555).

Even with the downside, this is probably the best way for you to file.