Question for the Money Doctors
Question submitted on Feb 20, 2013.
QuestionI"m working in Singapore since the beginning of the year for an American Company but my contract is local. I have not live in US since 20 years ago and this is my first job after all this time. Do I need to pay federal taxes and/or state taxes?
The answer to your question depends on wether you are a US citizen, a resident alien, a non-resident alien, or a person with no ties to the US other than working localy for a company headquartered in the US. If you are a US citizen or a resident alien, you are taxed on income from all sources, both within and outside the United States. You should file a Form 1040 (or 1040EZ or 1040A) by April 15th, 2014 (if you only started working in 2013). See details at www.irs.gov (Topic 851). If you are not a US citizen, see Publication 519 at www.irs.gov.
For additional information visit http://www.360financialliteracy.org/