Tax Filing Requirements For Ex-Patriots US Citizens or Resident Aliens And How You Can Do It!

This section teaches about the tax filing requirements for U.S. citizens or resident aliens living outside the country. As a U.S. citizen, you must pay taxes on your worldwide income, whether in the U.S. or abroad. Even if you qualify for tax benefits, such as the foreign earned income exclusion or the foreign tax credit, you still need to file a U.S. income tax return to access them. Taxpayers outside the U.S. and Puerto Rico have an extension to file but not pay. At the same time, U.S. citizens and resident aliens must report their worldwide income, including income from foreign trusts, banks, and other financial accounts. Additionally, there are reporting requirements for foreign accounts and assets, with federal law requiring U.S. citizens and resident aliens to report their worldwide income, including income from foreign trusts and foreign financial statements.

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This is a Clip from the Vlog "r/IRS Questions," which hopes to provide a steady path of information for the /r/IRS Reddit community and anyone interested in tax compliance. This channel also features the latest Internal Revenue Service news, IRS commentary, and tips from tax expert John R. Dundon.
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