>
Date: Mon, 11 Mar 2002 22:18:47 -0800 (PST)
> Correct?
>
> Granted, we might get a better deal if that money were taxed in the US, but the
> ammount is not worth the pain.
>
> So I guess my question is if what I think of doing is all right. My assumption
> is that nothing can be double taxed (but you never know!)
In theory, it is WRONG. You are supposed to declare ALL your income
on your US return. You are right, things are usually not double
taxed, but you still have to declare everything. In this case, the
tax treaty between CH and US says that you pay tax in the US and get
your taxes (35%) from CH reimbursed. To do this (as you might know),
you have to declare this income on your return and then file Form 82 I
with the CH administration. Also, do not forget to file Form TD F 90-22.1
with the US administration. You are right, it is a pain !!!
In practice, you might be protected by secrecy of Swiss banks. Unless
you have already declared these accounts one way or another, the US
administration has no way to know about them ...
If you want to take a chance to avoid a painful process, that's your
choice ... Personally, I have always declared my interest to the US
and got them reimbursed from CH.
Marc
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Received on Tue Mar 12 2002 - 06:31:24 PST
