Questions tagged [foreign-income]

To be used for questions related to income received from outside the country in which you reside or claim as a primary residence for tax purposes

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1answer
117 views

Nonresident for federal taxes / Resident for MA taxes: Do I get taxed on worldwide income?

I am a nonresident alien for federal tax purposes in 2015 (due to the visa I'm on and the time I've spent in the US). But I am a resident of Massachusetts for tax purposes, since I've lived in MA for ...
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1answer
234 views

Filing world-income for taxation in UK as a non-citizen

First a brief background: I’m a citizen of an EU country where up to recently I’ve resided and been employed as a PhD student at a state institute. After finishing the PhD, I’ve moved to UK to work at ...
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1answer
799 views

Withdrawing/depositing money from/in a foreign bank account

I am a legal alien allowed to work in USA. I recently opened a checking account in Bank of America and deposited some money (dollars) in the bank. I wish to know how I can access my account to ...
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1answer
189 views

How to bring my assets to US

I am a naturalized US citizen. I want to bring my assets from India to US. My assets are sold and in a bank account. What are the steps to bring the money to the US? It is worth 1.25 Crore and I have ...
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1answer
152 views

How do I file taxes if my foreign income can be excluded by the foreign earned income exclusion act? Or do i even need to file at all?

While I understand I don't owe any taxes based on the foreign earned income exclusion act. I think I still have the duty of doing the paper work of filling. I don't want to risk getting into any ...
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1answer
73 views

Will I have to pay taxes in India when I receive money (monthly salary) from UK as a permanent employee?

I am working as a permanent employee in a UK company but I stay in India and used to work at home. I receive money as INR into my savings bank account. Should I pay tax? If UK company sends money in ...
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1answer
129 views

Tax on income earned in the UK

This is the first time I have paid taxes in the US. I am doing my best not to make a mistake. Here's the situation: Worked for three weeks in the UK in January 2015. I have paid UK taxes on this ...
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1answer
115 views

Number of years to file US expat taxes using Streamlined Procedure

I live outside of the US and will be using Streamlined Foreign Offshore Procedures to file taxes, which requires filing for the most recent 3 years for which the deadline has passed. Since the ...
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0answers
172 views

Living abroad with Mexican insurance and HSA contribution

I am United States Citizen. I lived in Mexico all of 2015, I had a high deductible health plan (HDHP) from a Mexican insurance company all of 2015 as well. My plan meets United States IRS HDHP ...
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0answers
288 views

USA taxes for foreign contractor- FW8BEN FORM

I work as an independent contractor (providing personal engineering services) from India for a a USA based company. I receive around 15000$ yearly directly credited to my Indian bank account. I ...
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1answer
368 views

FBAR, just found about it. What to do?

Just found out about FBAR. I have a pension investment in India (over $10K) that involves paying yearly premium (I've paid 8 of the 20 premiums) to it. It matures in 12 years and until then I do not ...
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1answer
302 views

Reporting closure of NRI/NRE/NRO bank account when filing US federal income tax

I am aware that if my foreign account holds a balance exceeding $10K I have to report it in FBAR when filing income tax. This became a hassle, so I closed it in mid-2014, and reported the account and ...
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2answers
843 views

Foreign tax credit relief UK. Tax paid or allowed by treaty?

I am registered with HMRC in the UK as a sole trader for the 2014/15 tax year. During that year I worked for a Japanese company as an employee in Japan for a few months. Looking at my payslips I have ...
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1answer
159 views

Non-US citizen receiving money from US company?

I am a Mauritian and I will be receiving money from us companies (commission and sale of software). I have NO : Bank Account, Property, visited IN the United States So am I reportable to IRS or ...
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0answers
92 views

Friend may owe outstanding taxes from previous year?

I was talking with a friend of mine when at some point we started talking about how she hadn't paid taxes for an internship she had done at a University overseas. Since she had been paid using a ...
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1answer
4k views

UK tax self assessment:- how to report currency gains from between when a cheque is issued and cashed?

Can anyone tell me what should happen when a delay between foreign income arising and being converted into sterling results in an extra gain from the exchange rate? For example: A USD cheque is ...
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1answer
69 views

Income Tax- Short term Job in Vietnam

I have come Vietnam for short term- 6 months only and having certain questions about taxes, 1) Will I have to pay tax in India, if I transfer my salary from here to my India account? 2) I have not ...
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1answer
187 views

Tax consequences (future or present) of giving up US citizenship

I am a Norwegian citizen by birth, and have lived here all my life. Some years ago, I learned that I am - by virtue of a US parent - also a citizen of the latter country. The amusement of learning ...
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1answer
476 views

Foreign earned income exclusion / foreign tax credit when present in US

I'm a citizen of Norway as well as of the US by birth. I've never before 2014 resided in the US. I'm a PhD student in my native Norway, but we are here considered employees and paid a wage. I've ...
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1answer
886 views

Maternity payments taxable income?

Paid maternity leave in my country of residence is paid by the government as a social security insurance benefit, rather than by the employer. Is it treated as taxable income on my US return? Edit: ...

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