Not reporting very small income on my U.S. account while I live abroad
I grew up and lived in the U.S. until graduating from university. After graduation I took a job abroad where I have been living now for 5 years.
Since beginning my job, I have been filing a U.S. tax return and paying some U.S. tax (which is awful because I don't live in the U.S., earn much money in the U.S. or get any services from the U.S. but alas that is the law. It also means I can't save money or invest like my neighbours and friends can. It's absolute tyranny, but I digress)
However I do earn some money in the U.S. - about 00 per year. This money comes from some friends and family who I do small artistic jobs for. It is much easier for them to send money to my U.S. bank account than to send money overseas, and I use this money when I visit the U.S. once or twice a year.
I am wondering how risky this is for me vis-a-vis the IRS.
On one hand, I might be evading taxes (however little), but on the other if I were to report it, the process is so complicated and time-consuming that I would most likely not do these small jobs anyway. Do I need to worry about this or can I can carry on with these small jobs worry-free?
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If your gross income is only 00, then you don't need to file:
www.irs.gov/pub/irs-pdf/p501.pdf
That said, pay careful attention to:
www.irs.gov/individuals/international-taxpayers/taxpayers-living-abroad
You should be reporting ALL income, without regard to WHERE you earned it, on your US taxes. Not doing so could indeed get you in trouble if you are audited. Your level of worry depends on how much of the tax law you are willing to dodge, and how lucky you feel.
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