Tax Tips and Changes – Foreign source income.

Tax Preparation Services – http://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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