im an american citizen living&working in greece for12years should i be filing taxes ?

Question

in america,since im not earning a salary in the us.ive worked several years in us, but, ive only filed income tax once. where do i stand

in america,since im not earning a salary in the u.s.a.ive worked several years in u.s.a. but, ive only filed income tax once. where do i stand

Answer 1

You should be paying taxes in Greece. No need to file again in the US if you are already paying. But do get advice on this.

Answer 2

As an American citizens, you're obligated to file an annual return and pay federal taxes on your "worldwide income" regardless of where you earned it.

You will be in trouble if you stated that you only filed your return once in a couple of years. The IRS will be looking for those missing tax returns.

Since you were out of the country for 12 years, it sounds like you may have established a tax home abroad which qualifies you for Form 2555, Foreign Income Exclusion, which would exclude a portion of your income from abroad. This would only apply to income during the years you were outside of the US.

If you paid any taxes to foreign goverments, you may also qualify for Form 1116, Foreign Tax Credit, which would give you a tax credit for the foreign taxes paid against your US taxes.

If you move back into the US (i.e. considered an Ex-Pat), then you "may" lose your foreign tax home consideration and all income earned in the US would now be subject to tax.

You should consult with a local tax professional or tax attorney (that is aware of these foreign income tax treatments) to assist you.

Answer 3

Yes, you should file as US citizens owe tax based on worldwide income without regard to residency. It is unlikely that you owe anything, but it is worth checking as the rules on credit for foreign earnings got tightened recently. Most US embassies keep lists of local preparers with US experience. You might want to ask them for a list (although it will not be a recommendation).

Answer 4

I can't add much to the previous answer except that you must file your returns in order to secure the benefits that are described there. You may be subject to penalties for nonfiling regardless of your tax liability. And yes, as a citizen, you are definitely required to file.

Answer 5

Yes, you're supposed to be filing taxes. But you can get a credit for the taxes you pay in Greece.

Answer 6

the in trouble-free terms way Greece can make you connect is you're also a Greek citizen or you practice for naturalization. I advise you get right down to the U. S. Embassy including your US passport ASAP and get it straightened up. (if you're a citizen of Greece or have utilized for naturalization then your in trouble-free terms decision is going to be to get drafted or get out of Greece. the U. S. Embassy can no longer help you with that.)

Answer 7

If you don't live or work here even though you are a citizen why would you pay taxes here?