QUESTION
Do you have to file taxes when outside of the US?
Asked on Jun 11th, 2015 on Taxation - California
More details to this question:
Do I have to file any sort of tax document in the US if I am a citizen but am going to be living and working outside of the country for all of next year? I am afraid of being audited when I get back because how would they know I am gone?
4 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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Yes, you have to file a tax return. However, unless you are earning over $200,000 or so, you won't have to pay any U.S. Taxes.
Answered on Jun 15th, 2015 at 3:22 AM
US citizens are required to pay US income tax on the world wide income regardless of where they reside. So, if you have enough income to require a tax return, you must file it. Even if you do not have enough income to require a return, it is a good idea to file a return, even a zero return. That starts the statute of limitations to run on any audit or collection actions.
Answered on Jun 11th, 2015 at 2:14 PM
Chapter 7 Bankruptcy Attorney serving Lisle, IL
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Mankus & Marchan, Ltd.
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If you are a U.S. citizen, you have to file federal income taxes every year, even if you reside outside of the U.S. If you have to pay taxes in the country where you live, you may claim a credit (IRS Form 1116) for the foreign taxes that you pay as an offset against the U.S. federal taxes.
Answered on Jun 11th, 2015 at 11:05 AM
Elder Law Attorney serving Hollister, CA
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Charles R. Perry
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You need to file a tax return, even if you are living and earn all your income outside the United States. You should really talk to a professional tax preparer about your specific situation. There are deductions and tax credits for which you may be eligible because you are overseas.
Answered on Jun 11th, 2015 at 10:51 AM