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Purely Dominica

Purely Dominica

Here it is, as promised. First off, many supposedly informational Web sites tell you to obtain IRS Publication 776, but that is currently in error because there is no longer any such publication. What you want is IRS Publication 54, which you can get (the most recent filing year’s version).

Also, the prior posting on this subject mentioned the possibility of any tax treaty with another nation, suggesting that you connect to the US Treasury Web site. A quick check on U.S Internal Revenue Service site, as well as at the Treasury site confirms that the US and Dominica have no tax treaty. (This is common, by the way.)

The rules for US citizens and US residents living abroad are really quite simple. You must file your IRS tax forms as you usually do. As long as you don’t also reside in the USA, you won’t have any state forms to file. You can obtain the forms on-line. Filing for retirees is quite simple and straightforward; they really don’t even need Publication 54. Those who earn income in Dominica will have to study Publication 54 more closely with regard to excluding any income tax payments made to the Commonwealth of Dominica.

Filers get an automatic extension of the date by which to file (check Pub. 54, as that date could change from year to year), but in any case, and amounts due will be charged interest if not actually paid by April 15. Most US citizens will want to keep funds in a US bank or at least have the capability of both filing and paying electronically and on-time.

When I was very young, my parents told me – and I did not understand their mordant humor – that there are two things that nobody can escape: Death and Taxes. I didn’t understand then, but I surely do now! I also suppose that the very wealthy do escape Taxes, or at least most taxes, though.

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