Tax Preparation Services – www.abataxaccounting.com
Tax Tips and Changes - Foreign
source income. If you are a U.S. citizen with income from sources outside the
United States (foreign income), you must report all such income on your tax
return unless it is exempt by U.S. law. This is true whether you reside inside
or outside the United States and whether or not you receive a Form W-2 or Form
1099 from the foreign payer. This applies to earned income (such as wages and
tips) as well as unearned income (such as interest, dividends, capital gains,
pensions, rents and royalties). If you reside outside the United States, you
may be able to exclude part or all of your foreign source earned income. If
you have any questions about preparing for the 2012 filing season, please
contact us:
ABA
Tax Accounting
Abatax81@gmail.com
Direct 612-282-3200
Toll free 866-936-0430
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