If you are a U.S. citizen or resident, you are subject to U.S. income tax on your worldwide income. If you had income in a foreign country, you also may have to pay foreign income tax. The foreign ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Janet Berry-Johnson is a CPA with 10 years of experience in public accounting and writes ...

Explains why U.S. citizens and resident aliens must report global income and how exclusions apply. The key takeaway is that living abroad does not remove U.S. filing ...

The FTC operates on a relatively straightforward formula. However, it’s not a dollar-for-dollar deduction. Rather, it depends on several factors, including your total foreign income, the foreign taxes ...

A new scheme will allow small taxpayers to declare undeclared foreign assets. This one-time offer covers income or assets up ...