Don t Panic If Tax Department Raids You: Difference between revisions
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Revision as of 13:11, 13 May 2026
Right in the get-go -- this is my territory. I know the legalities and practicalities of the offshore world better than all but, maybe, 500 experts across the globe. If never know one of these people (and none of them is on top of the internet trying to sell you something) then please listen to me with both ears.
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Moreover, foreign source income is for services performed beyond the U.S. If one resides abroad and works best for a company abroad, services performed transfer pricing for that company (work) while traveling on business in the U.S. is taken into account U.S. source income, and it's also not foreclosures exclusion or foreign breaks. Additionally, passive income from a U.S. source, such as interest, dividends, & capital gains from U.S. securities, or U.S. property rental income, furthermore not subject to exclusion.
Defenders of the IRS position would say it returns to Section 61. The waitress provided a service for me, and I paid for it. Compensation for services is taxable. End of adventure.
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