GringoPost | Ecuador: US expats tax cheat sheet

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US expats tax cheat sheet

US income tax return filing is different for people born in the US and living abroad:

In order to report worldwide income, the US citizens and resident aliens have to file Form 1040, 1040A, or 1040EZ. This is also valid in cases when the person has US income source or the income is coming from another country from where tax is being deducted from it.

Things to report include dividends, wages, compensation for service and all interests. A person who is a non-resident alien and is engaged in the trade of business in the US needs to file US income tax return. Refund overpaid or withheld tax can also be claimed by a non-resident alien if he wants to claim an alien refund. This can also be done if there is a need to claim the benefit of credits and deductions.

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