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Simple U.S. Tax question

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leopardi55s
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Simple U.S. Tax question

Post by leopardi55s » Fri, 28 Mar 2008 1:26 pm

I made under US$80K last year. I'll extend my tax filing for a month or two, but we need to pay any anticipated tax before April 15th even if we extend filing. I know that this amount is under the foreign income exclusion amount. Does this simply mean I owe zero federal tax in the U.S. and thus don't need to send any money in by April 15th?

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Strong Eagle
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Re: Simple U.S. Tax question

Post by Strong Eagle » Fri, 28 Mar 2008 5:49 pm

leopardi55s wrote:I made under US$80K last year. I'll extend my tax filing for a month or two, but we need to pay any anticipated tax before April 15th even if we extend filing. I know that this amount is under the foreign income exclusion amount. Does this simply mean I owe zero federal tax in the U.S. and thus don't need to send any money in by April 15th?
Maybe. You will pay no tax on your EARNED income. You must pay taxes on all unearned income (dividends, etc). If this is small, then your deductions (standard or otherwise) will offset. But if large you would pay tax. Also, since you are asking this question I suspect you are new to Singapore. Are you sure you meet the residency requirements to claim the earned income exclusion. Check publication 54 at the IRS website.
Last edited by Strong Eagle on Fri, 28 Mar 2008 5:51 pm, edited 1 time in total.

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