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Does a Venezuelan native have to pay taxes for money acquired

through deposits in his bank...
Does a Venezuelan native have to pay taxes for money acquired through deposits in his bank account in the USA, emanating from crowfunding websites like indiegogo.com?
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Answered in 1 hour by:
10/2/2011
Jax Tax
Jax Tax, Tax Attorney
Category: Tax
Satisfied Customers: 1,408
Experience: JD, LL.M in Business and Taxation, IRS Enrolled Agent. Expert in Business and Tax Transactions
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Jax Tax : If the person is a resident of the United States and performs the duties related to the earnings of the website in the United States, the it is subject to US tax. If he is a green card holder, all income worldwide is subject to US tax. If a non resident/non green card holder, only income associated with work done within the United States is subject to tax. If a non resident that qualifies to file.form 1040 instead of 1040 NR, all world wide income is subject to US tax.
Jax Tax : The answer is it depends on residency and whether there are significant ties to the US. If no ties to the US, the question then becomes, why is there a US account?
Customer:

Basically, we are making a project in indiegogo.com in order to receive donations. We have an American account because the website requires one to receive the funds. We would like to know if the owner of the account, who is Venezuelan and a non US resident, would have to pay taxes.

Jax Tax : There will be no US taxes if there is no business in the US.
Customer:

Thank you! One final question: is there any specific mention in the tax legislation that states the information you have provided?

Jax Tax : Not specifically to this point. Just more general statements as to who the US has the authority to tax. If you have no presence in the US, are not a US citizen, and do not receive income from investments in the US (stock market), then they do not.
Jax Tax
Jax Tax, Tax Attorney
Category: Tax
Satisfied Customers: 1,408
Experience: JD, LL.M in Business and Taxation, IRS Enrolled Agent. Expert in Business and Tax Transactions
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