Taxes

[Julieta0317]

I'm sure this topic has been covered before, but couldn't find much, plus tax laws change so often that old posts might not be relevant anymore. As I'm getting ready to move back to Argentina, I would like to have an idea of what I need to do if I'm lucky and get a job there earning pesos. I know I'm still required to pay US taxes, but is there a threshold? Thanks!!

 

[citygirl]

You are not required to pay US taxes on your foreign income if you meet one of the tests that prove you are a resident in another country (in this case Argentina) up to an earned income of 92,000(ish) income USD. YOu are however required to FILE US taxes.

 

[Julieta0317]

Thank you! I don't think I'll need to worry about making anywhere close to $92k

 

[Crema Americana]

Do you have to file if you earn nothing? Not sure how this is going to work when we have to prove we have health insurance. I suppose those living abroad will be exempt or can use foreign insurance.

 

[nlaruccia]

If you have an income in the States and you already file taxes based on that particular income, and you have an income in Argentina that is below $92,000 US, do you have to file taxes or claim the Argentine income in the US even though you don't have to pay taxes on it?

 

[PalermoDano]

Do you have to file if you earn nothing? Not sure how this is going to work when we have to prove we have health insurance. I suppose those living abroad will be exempt or can use foreign insurance.

A good page to start from:

http://www.irs.gov/Individuals/International-Taxpayers/U.S.-Citizens-and-Resident-Aliens-Abroad---Filing-Requirements

Requirements to file are found in Pub I1040: http://www.irs.gov/pub/irs-pdf/i1040.pdf

Income *gross income limits are:
Age <65 single $9,750, married filing jointly 11,200.
Over 65, head of household, married filing separately all have different limits and are found in the pub listed above.

*IRS considers money, goods, property and services when calculating your "Gross Income"

 

[PalermoDano]

If you have an income in the States and you already file taxes based on that particular income, and you have an income in Argentina that is below $92,000 US, do you have to file taxes or claim the Argentine income in the US even though you don't have to pay taxes on it?

Yes all worldwide income is required to be reported.