330 day rule. If someone is out of country only 300 days, do they have to pay taxes only on the income they made while being back the 60 days, or do they have to pay income tax of everything they made?
Second question. The rule states any 12 month period out of country, can a month that was claimed the in the previous tax year also be claimed for another tax year. i.e Dec-Dec. Thanks.
2007-12-04 04:20:22 · 2 answers · asked by chris 2 in Business & Finance ➔ Taxes ➔ United States
thanks...i didn't pay any foreign income tax. I was only out of the US for 300 days, then I lost my job.
What happens if I can't pay my taxes in entirity? What will the IRS do?
2007-12-04 05:44:05 · update #1
As a US citizen you are subject to US taxation regardless of where you live or earn the in come.
You MIGHT qualify for the FEIE if you either have a valid residence in a FOREIGN country all year OR meet the Physical Presence test. That requires you be physically present IN A FOREIGN COUNTRY for at least 330 days in any continuous 12 month period. Time spend in transit over international waters, via air or sea, or time spent in a place that is not a country such as Antarctica, or time spend in the US is NOT time spent IN A FOREIGN COUNTRY. If you do not meet one of the two tests you do NOT qualify for the FEIE. It is NOT pro-rated.
If you don't qualify for the FEIE you can take the credit for Foreign Income Taxes paid using Form 1116.
2007-12-04 05:08:27 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
no to both
2007-12-04 04:37:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋