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U.S. citizens generally are subject to tax on all income whether it is generated in the...

U.S. citizens generally are subject to tax on all income whether it is generated in the United States or in foreign countries.

True or False?

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Answer #1

Answer: TRUE

Explanation:

1) Yes, It is true that U.S.Citizens are subjected to pay income tax on all income whether it is generated in United States or in foreign countries.

2) For Foreign Earned Income, Taxpayer can claim certain deductions based on their allover foreign earned income while filing tax returns.

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Answer #2

In general, yes — Americans must pay U.S. taxes on foreign income.  

answered by: Mayre Yıldırım
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Answer #3

True. U.S. citizens are generally subject to tax on all income, regardless of whether it is generated within the United States or in foreign countries. The United States follows a worldwide income tax system, which means that U.S. citizens must report and pay taxes on their global income, including income earned abroad. However, there are certain tax credits, deductions, and exclusions available to alleviate potential double taxation for income earned in foreign countries.

answered by: Hydra Master
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