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Curt Joined: Eons Ago
# Posts: 3671
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Posted: 10/19/2007 02:48 pm
It seems that americans are paying taxes on income earned within the USA when they do not need to pay taxes on that kind of income. See this URL and listen to the MP3's: [link] Is the IRS lying to us that we all owe taxes on domestically earned income? What are your thoughts based on the recordings? |
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Curt Joined: Eons Ago
# Posts: 3671
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Posted: 10/24/2007 02:45 pm
Wow, thought tax payers would have something to comment on—guess not. |
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ClickIt Joined: Jul 31, 2000
# Posts: 731
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Posted: 10/24/2007 06:40 pm
No, the IRS isn't lying to you. Actually, US citizens owe taxes on income - even if the income is earned outside of the US. So, if you get a gig to work in Japan, you will owe US taxes on the income earned in Japan. However, the US has tax treaties with most countries; if you pay taxes in Japan, the US should take that into conseraration when figuring out your US tax bill. Overseas investment income is taxed too. Speak with a good tax accountant who has experience in this area. It's easy to mess this up. |
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Curt Joined: Eons Ago
# Posts: 3671
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Posted: 10/27/2007 05:49 am
ClickIt, did you actually listen to the radio shows on that page and understand what that person is saying? IT sure makes a person wonder. There are technical issues listed within the tax guidelines that seem to point in a different direction. I'm not one to make waves with the IRS. They can make your life a living H-E-double hockey sticks. However, I sure would like to know the real truth and thought others here would really like to hear the radio show for themselves. |
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ClickIt Joined: Jul 31, 2000
# Posts: 731
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Posted: 10/27/2007 10:53 am
Whoosie! I've been having conversations with my tax accountants recently, and perhaps my other post was more a reflection of what's bouncing around in my own head rather than a thoughful commentary about your post. |
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Curt Joined: Eons Ago
# Posts: 3671
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Posted: 10/27/2007 10:36 pm
What did your tax accountants say? See also this page: 31 Questions and Answers about the Internal Revenue Service. That page has quite a bit of interesting info on it that USA citizens would want to read. BTW, many tax accountants don't know the IRS codes well enough to truly decipher what's legally owed versus what's claimed as owed. |
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