Mobile menu

Where can I get US tax info?
Thread poster: Joseph Royal
Joseph Royal
United States
Local time: 20:36
Spanish to English
Dec 11, 2001

maybe it\'s a bit early, but I figure it\'s a lot cheaper to be early than late on this:



Where is a good resource on information for how to report and withold on earnings i make while working for foreign translation agencies for my US income tax report?



I haven\'t found much on www.irs.gov or others. Thanks!


Direct link Reply with quote
 
xxxH.A.
English to Russian
+ ...
Here is something to read on that: Dec 12, 2001

Income earned in a foreign country is treated the same as income earned in the U. S. if taxes were paid to the central government of that country. You should report the value of the foreign income in U.S. dollars (using the exchange rate at the time of application) in both the \"Adjusted Gross Income\" line item and in the \"Income Earned From Work\" line item. Information about exchange rates can be found by searching on line, using the key words \"exchange rates.\"



Include the value of any taxes paid to the foreign government in the \"U.S. Income Tax Paid\" line item. If income earned in the foreign country was not taxed by the central government of that country, the income should be reported as untaxed income on the FAFSA.



In many cases, if you file a return with the IRS for a year in which foreign income was earned, a portion of the foreign income can be excluded on IRS Form 2555 for U.S. tax purposes. The figure reported on line 43 of Form 2555 (or line 18 of Form 2555EZ) should be reported as untaxed income on Worksheet A on page 8 of the paper FAFSA. The final total for the Form 2555 must not be reported as untaxed income because it contains other exclusions.



http://www.google.com/search?q=cache:wH67Ka7Ui6s:www.ed.gov/prog_info/SFA/FAFSA/instr00-1/foreign2.html%20"foreign%20income"&hl=en



You might also want to find out about \"double taxation\" rules applicable to the country where your income has been generated. The U.S. has a treaty with many countries allowing to avoid paying taxes twice for the same income.


Direct link Reply with quote
 

Lester  Identity Verified
Local time: 23:36
Member
Portuguese to English
+ ...
Don't forget... Dec 13, 2001

the IRS\'s own site. It is a very good source of information and has a very good search feature.



www.irs.gov



Gio


Direct link Reply with quote
 


To report site rules violations or get help, contact a site moderator:


You can also contact site staff by submitting a support request »

Where can I get US tax info?

Advanced search


Translation news





Déjà Vu X3
Try it, Love it

Find out why Déjà Vu is today the most flexible, customizable and user-friendly tool on the market. See the brand new features in action: *Completely redesigned user interface *Live Preview *Inline spell checking *Inline

More info »
TM-Town
Manage your TMs and Terms ... and boost your translation business

Are you ready for something fresh in the industry? TM-Town is a unique new site for you -- the freelance translator -- to store, manage and share translation memories (TMs) and glossaries...and potentially meet new clients on the basis of your prior work.

More info »



All of ProZ.com
  • All of ProZ.com
  • Term search
  • Jobs