Tax Law (Questions About Taxes)/income tax

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Question
Hi, Ms Zemelman,

This is my question:

I am a naturalized US citizen.

Is a pension that I earned in a European country (Austria)
before I immigrated to the US and that is below the required tax-filing amount taxable in the US?

TIA, J

Answer
Hello,

First of all, foreign pension balance must be reported on FBAR: http://www.taxesforexpats.com/articles/financial-account-reporting/foreign-accou

Financial reporting is only informational but must be done annually even if you are below the filing threshold amount for income tax reporting.


If you are confident that your total annual income from all sources is below the filing threshold: http://www.taxesforexpats.com/expat-tax-advice/minimum-filing-requirements.html then you may not file income tax return

If over the threshold then you have to file and include foreign pension payments.

I.J.ZEMELMAN

Tax Law (Questions About Taxes)

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IJ Zemelman, EA MBA

Expertise

I am an IRS-authorized EA and principal of a Tax Preparation firm focusing on U.S. Expatriates. We specialize in all tax issues faced by American citizens living abroad - such as foreign earned income, tax treaties, foreign spouse, etc. Visit our website - www.TaxesForExpats.com - for more information.

Experience

18 years professional tax experience, 12 with expatriate taxes.

Publications
Expatriate tax information on www.TaxesForExpats.com

Education/Credentials
MBA from Zicklin School Of Business, IRS Enrolled Agent

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