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Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
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Experience:  10 years experience
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Dual citizenship issue Visa 18 Kuwait: Company wants foreign

Customer Question

dual citizenship issue Visa 18 Kuwait: Company wants foreign bank account opened to have the appearance of being paid by foreign company to comply with that country's labor laws.The U.S. company will then deposit and withdrawal the money monthly.The employee never touches that money. All employees money will be paid to employee in America. How will this affect employees taxes?
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

That will not have direct affect.
As US persons - employees are required to report all worldwide income regardless of the income source, regardless of location of the employer and regardless how payments are transferred.

Customer: replied 1 year ago.
the answer would actually be the direct affect will be all foreign income will then need to be reported even though the employee did not receive the funds. The employee would owe taxes on all foreign earned income since he is the account holder.