PayPal & IRS Issue

Out of context: Reply #4

********
0
As long as he can prove that he has been paying taxes in country of residence, he can file for back tax. Chances are he will get money back.
On the other hand, IRS can still fine him for not reporting his income and filing taxes because he technically earned his income in US and deposited in US account.
My landlord had a similar issue. He took all of his rental income in to his US account while living in UK. Later, IRS issued a fine for not paying taxes on the rental income.
********
0Permalink
Upvote Downvote
Flag
- only if yo owe taxes - no fine if they owe you moneypr2
Show [[ numHiddenNotes ]] more notes Add Note
Save Cancel