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winktax, Enrolled Agent
Category: Tax
Satisfied Customers: 425
Experience:  18 years experience as an Enrolled Agent, insurance agent, stock broker and financial advisor.
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I am 75 years old. I have been living in the Philippines this

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I am 75 years old. I have been living in the Philippines this past year.I receive Soc Sec of $1275 each month since january. I also receive $235.50 from Teamsters retirement. I am divorced and have no other income.
Will I need to file a return this year?

winktax :

US citizens are taxed on worldwide income. A single person over the age of 65 is required to file a return if income is over $11,200 for tax year 2012. Gross income for filing purposes generally does not include gross social security. Your only taxable income for 2012 would be the pension of $2,826 which is less than the filing requirement of $11,200. You owe no tax and are not required to file a Form 1040 or Form 1040NR.

winktax :

You may file a return to apply for a refund of any US income taxes withheld from your pension or social security. Any US taxes withheld would be refunded if you filed a return.

winktax :

There may be other returns you are required to file as a US citizen, namely the Form TD F 90-22.1 - Report of Foreign Bank and Financial Accounts. This form is required to be filed if you maintain foreign bank accounts which at any time had a value greater than $10,000 during the calender year. This return is filed on it's own and is due June 15 of each year.

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