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About John Stancil, CPA
Expertise
I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Society of Tax Professionals, and the Institute of Management Accountants.
Experience
I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper.
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You are here: Experts > Business > Corporate Law > Tax Law (Questions About Taxes) > taxable income
Expert: John Stancil, CPA
Date: 7/15/2008
Subject: taxable income
Question
QUESTION: I am 71, retired and reside in Europe. I have lived and worked outside the USA for the past 46 years. I receive US Social Security retirement benefits of less than $700 per month. Must I submit a tax return?
Thank You
ANSWER: Ed,
As a U. S. citizen regardless of your residency, you are subject to tax on your world wide income. If your taxable income is sufficient to require filing you must file a U. S. return.
Hope this helps.
John Stancil, CPA
---------- FOLLOW-UP ----------
QUESTION: Thank you for your swift reply.
Just to be a bit more specific: My only income is my retirement pay (about $700/mo.) My wife is a resident alien in the US, and her only income comes from the Spanish national retirement program. We have not filed returns to the IRS for many years. The US has no tax treaty with Spain. Where can I find information about minimum taxable income.
Answer
IRS Publication 17 contains that information. It is available online at www.irs.gov. Also on that site you can click on "individuals" and it will show a link that says "do you have to file a Federal Income Tax Return." Both of those should give you your answer.
Hope this helps.
John Stancil, CPA
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