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Old 05-05-2008, 06:16 PM
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IRS says "Income from Abroad is Taxable"!

The IRS has stated that "if you are a U.S. citizen or resident alien, you must report income from all sources within and outside of the U.S. This is true whether or not you receive a Form W-2 Wage and Tax Statement, a Form 1099 (Information Return) or the foreign equivalents."

Furthermore, the IRS rules state that "if you are a U.S. citizen or resident alien, the rules for filing income, estate and gift tax returns and for paying estimated tax are generally the same whether you are living in the U.S. or abroad."

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