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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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To Whom It May Concern, I have a US Passport in addition

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To Whom It May Concern,

I have a US Passport in addition to my UK Passport because my Mother, who is American, applied for one for me when I was born. However, I was born and have always been based in the UK.

I currently live, work and have all of my money in the UK but am not sure a) if I have to file US tax returns and if so b) what tax I might be liable to pay.

Are you able to enlightenment me on the issue?

Many thanks,

Joe

LEV :

 


Hi and welcome to Just Answer!
a) if I have to file US tax returns and if so
Yes - as you are an US citizen - you filing requirements are same as for other US citizens - and - yes - you are required to report all your worldwide income.
In additional if you have foreign bank accounts with the total value above $10,000 - you are a subject of FBAR reporting..
b) what tax I might be liable to pay. Are you able to enlightenment me on the issue?
To determine your tax liability - if any - you need to file your tax return. Because you are a bona fide resident of the UK - you may claim a foreign earned income exclusion. However - if the same income is taxed in both countries - you may claim a credit for foreign tax paid on your US tax return - thus effectively will avoid double taxation. So your US tax liability would be minimal if any - still you are required to file a tax return.
Let me know if you need any clarification of help with reporting.

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