The only thing certain in life is death and taxes. I do no
remember who first said that, but it's totally true. Let me introduce
myself. I'm an expat living in South Korea at the moment and, like
everyone else, I think taxes suck. I have to worry about paying both
Korean Taxes and of course American taxes.
One tax question I have as an expat is "who has to file income taxes for the United States?" I did some research and this article answers that question.
The answer is it turns that any American citizen or American Green Card holder is required to file a US federal income tax return each year. It does not matter where the money is earned, where the citizen or green card holder lives, or what currency the money was earned in. If you're paying attention, yep, that means basically every American citizen or green card holder around the world has to file a tax return every year.
But actually there is one other thing: Filing federal income taxes also depends on exceeding a minimum income threshold as well as marital status. Here are the tax-paying thresholds as of 2012.
A single (not married/not divorced) tax payer must earn over $9,750 in income to be required to file for US Federal income taxes. Anything less and you're not required to file.
A married couple filing jointly (together) must earn over $19,500 in income to file for US Federal income taxes. Anything less and you're not required to file.
A married couple filing separately must make over $3,800 in income in order to file. Anything less and you're not required to file.
While this information concerns federal taxes, don't forget that you may also have to pay state and local taxes. If you have a small business or live abroad, you may have to fill out other tax forms. Expats like me have to worry about paying taxes in the United States as well as the other country that they reside live in.
Conclusion
So for this tax year, remember that the vast majority of families or individuals have to file a federal tax return, regardless of whether you are living and earning your paycheck in the United States of if you're an expat earning a living in Southeast Asia. Uncle Sam wants your money. Some of this information may be common sense, but basically unless you're making less than roughly $10,000 in income each year, you have to file your taxes. And that takes care of every working American and every working American expat.
Article Source:
http://EzineArticles.com/?expert=Ryan_J._JohnsonOne tax question I have as an expat is "who has to file income taxes for the United States?" I did some research and this article answers that question.
The answer is it turns that any American citizen or American Green Card holder is required to file a US federal income tax return each year. It does not matter where the money is earned, where the citizen or green card holder lives, or what currency the money was earned in. If you're paying attention, yep, that means basically every American citizen or green card holder around the world has to file a tax return every year.
But actually there is one other thing: Filing federal income taxes also depends on exceeding a minimum income threshold as well as marital status. Here are the tax-paying thresholds as of 2012.
A single (not married/not divorced) tax payer must earn over $9,750 in income to be required to file for US Federal income taxes. Anything less and you're not required to file.
A married couple filing jointly (together) must earn over $19,500 in income to file for US Federal income taxes. Anything less and you're not required to file.
A married couple filing separately must make over $3,800 in income in order to file. Anything less and you're not required to file.
While this information concerns federal taxes, don't forget that you may also have to pay state and local taxes. If you have a small business or live abroad, you may have to fill out other tax forms. Expats like me have to worry about paying taxes in the United States as well as the other country that they reside live in.
Conclusion
So for this tax year, remember that the vast majority of families or individuals have to file a federal tax return, regardless of whether you are living and earning your paycheck in the United States of if you're an expat earning a living in Southeast Asia. Uncle Sam wants your money. Some of this information may be common sense, but basically unless you're making less than roughly $10,000 in income each year, you have to file your taxes. And that takes care of every working American and every working American expat.
Article Source: http://EzineArticles.com/7512668
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