DOHA: American Chamber of Commerce (AmCham) in Qatar yesterday organised US Individual Tax Seminar for expatriates in association with PricewaterhouseCoopers (PwC) at Oryx Rotana Hotel.
Dennis Allen, Partner, PwC said that US taxpayers are taxed on their worldwide income regardless of where they live and may have an income tax return filing requirement if they are working and living overseas. A US taxpayer could be a US citizen, green card holder or an individual that spends sufficient time in the US and is considered a resident.
Certain non-resident of the US may also have a requirement to file a US income tax return.
The regular due date for and income tax return is April 15, but extensions to file the return may be available. In addition to filing a tax return, US taxpayers living overseas may be required to file a foreign bank account report, commonly known as a FBAR form. The FBAR is filled with the US Department of Treasury no later than June 30 following the tax year.
US taxpayers working and living outside the US may be able to claim an exclusion for their foreign earned income and housing costs subject to certain limitations.
The foreign earned income and foreign housing exclusion may reduce your taxable income to zero but you still need to file and income tax return to claim the exclusions.
The Peninsula
