2007-02-15 01:05:07 · 3 answers · asked by Momo's got a querstien 1 in Business & Finance ➔ Taxes ➔ United States
No, you are not tax exempt. You still have to declare all of the foreign income on your US tax return. However, the US has tax treaties with most other countries, and if you paid tax on your income abroad you will get a credit for it on your US tax return. The purpose of the tax treaty is to ensure that you are not doubletaxed, so if you paid tax on it abroad you won't get taxed again in the US. There are some extra forms you need to fill out along with your federal tax return.
2007-02-15 03:47:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you lived and worked outside the US in 2006, you may be eligible to exclude all or part of your foreign earned income from US tax. The rules are complex, so you should get a copy of IRS Pub 54 from the IRS website and review it carefully.
Alternatively you may be able to claim a credit for foreign income taxes paid. Again, IRS Pub 54 will guide you with the rules on that.
2007-02-15 01:15:19 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Call the Internal revenue-they would have that info.
2007-02-15 01:08:45 · answer #3 · answered by Anonymous · 0⤊ 1⤋