Legal Question in Tax Law in Texas

Pay taxes on income in another country

I own some stock in Switzerland that pays me a small amount of income that is being paid into an account in Switzerland. I have listed that money on a previous tax return in the US but not in all of them. What do I need to do?

Asked on 7/20/09, 11:34 am

1 Answer from Attorneys

Doug McCullough Phillips & Reiter

Re: Pay taxes on income in another country

You may need to file amended tax returns for the other years. You may also need to make foreign bank account disclosures. Fortunately, there is an amnesty program in place until September that allows you to make those disclosures for prior years.

I would need to know more about your situation to give any definitive advice.

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Answered on 7/20/09, 11:38 am

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