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CFEPro789
CFEPro789, Accountant
Category: Tax
Satisfied Customers: 543
Experience:  Former IRS Agent, Master of Accountancy, Tax Return Preparer
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I have lived in Brazil for the past 5 years. I have no income

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I have lived in Brazil for the past 5 years. I have no income or properties in the US. I have not submitted any US tax returns since I have been in Brazil, only the Brazilian tax returns. Is it required to submit US tax returns since my residence and income is in Brazil and only Brazil? Are there any penalties if I have go back and submit the last 5 years?

jgdarragh2285 :

Hi my name is XXXXX XXXXX I will be helping you today with your tax question. If you are a US Citizen then you are required to pay and file US Income tax, however you will be able to tax tax paid in another country as a credit on your personal 1040 Tax Return in the United States. If however you are not a citizen of the US then you no longer have to file.

Customer:

yes, I am a US citizen. Will there be a penalty for me to now go back and submit the tax returns?

Customer:

I do pay substantial Brazilian taxes

jgdarragh2285 :

If you owe additional tax then yes, but if the tax you paid in Brazil covers what you paid in the US then you will not owe anything therefore there will be no penalties.

jgdarragh2285 :

You only owe penalties on unpaid tax.

Customer:

ok...sounds good, thanks

jgdarragh2285 :

http://www.irs.gov/Individuals/International-Taxpayers/Frequently-Asked-Questions-About-International-Individual-Tax-Matters

jgdarragh2285 :

That is a link for info from the IRS about International Tax Payesr

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