How to Report Foreign Income without a W-2
plowshare
As an american populate oversea, filing your U.S. taxes can seem like a complicated, overwhelming task—and reporting extraneous income without a W-2 lone adds to the complexity .
If you ’ re one of the thousands of U.S. expats wondering how taxes work when you don ’ triiodothyronine receive a W-2, we ’ rhenium here to brighten your day. The good news program is that yes, you can still file your U.S. taxes without a W-2. The bad newsworthiness is that, depending on the nation you live in and whether you ’ re claiming any exclusions of credits, it may take some detective work and a set of mathematics. The flatware trace ? H&R Block is here to help .
Filing without a W-2 may mean more work, but you ’ re in good hands. Whether you file exile taxes by yourself or file with an adviser, H & R Block is hera to help. ready to file ? Head on over to our Ways to File page to check out your options.
Common foreign versions of the U.S. W-2
If you ’ re a U.S. citizen working overseas and you don ’ t have a W-2 come tax clock, don ’ thyroxine worry. The inaugural thing you should do is find out if your country has a version of ( or something similar to ) the american W-2. many countries that charge income tax do. If you ’ re in a country that does, you ’ re in luck — you ’ ve equitable cut down on the act of documents you need to rifle through and mathematics you have to do .
Below are a few coarse foreign W-2 counterparts we encounter, but this is by no means a complete list :
- Great Britain – Form P60
- Canada – T4 slip
- Australia – PAYG payment summary
- Germany – Income tax certificate (Ausdruck der Lohnsteuerbescheinigung)
- Japan – Japanese tax statement (Gensen-Choshu-Hyo)
- Singapore – IR8A
- Switzerland – Salary Certificate
- Philippines – BIR Form 2316
- Mexico – Form 37, Annual Constancy of Wages and Salaries (Constancia de sueldos, Salarios, Conceptos asimilados, Crédito al salario y Subsidio al para el empleo)
You should know that if your current country has a different tax year than the U.S. ( like the U.K., for example ) you may not be able to copy and paste your income information. For example, if you had an australian PAYG requital compendious we would besides ask for the year-to-date information from your wage slips to calculate income for the U.S. tax class .
How to file U.S. taxes without a W-2 (or the foreign version of one)
If you ’ re not in a state that has a year-end tax assessment document or something alike to the W-2, you ’ re going to have to calculate your income and taxes owed based on your pay stubs, deposit records, investing reports, change of location receipts, and other documentation. then — just like you would for even income — you ’ d enter your earned income on your IRS imprint 1040.
Read more: 8 Top Dividend Index Funds | The Motley Fool
Here’s where it gets tricky — once you’ve added up your income, you’ll have to figure out your exclusions and credits. The U.S. helps prevent expats from paying taxes doubly on the lapp income ( once in their state of residency and once back in the States ) by providing two tools : the Foreign Earned Income Exclusion ( FEIE ) and the Foreign Tax Credit ( FTC ). They help expats in different ways — the FEIE allows you to exclude up to a sealed sum of income from your U.S. taxes while the FTC gives you a dollar-for-dollar recognition on taxes paid to a alien country .
To claim these, you ’ ll first have to qualify. If you do, you ’ ll have to file extra tax forms ( form 2555 for the FEIE and Form 1116 for the FTC ) and attach them to your 1040. You ’ d then report the FEIE it on your schedule 1, Line 8, and the
FTC on Schedule 3, Line 1 .
These by no means are the only forms you may have to file. even if you have a extraneous version of a W-2, you may have to report money in extraneous accounts. If you have a foreign reciprocal fund or own a foreign business ( or are a stockholder in one ) you ’ ll have tied more report requirements.
Reporting foreign income without a W-2? H&R Block’s Expat Tax Services is here to help.
If the above makes your stomach churn, you can relax — with H&R Block, you can easily file your U.S. taxes and report foreign income without a W-2. With multiple ways to file, you can be as hands-off or hands-on as you like — in the driver ’ s seat with our DIY exile tax service or let one of our tax advisors guide you each measure of the direction .
Don ’ thymine know what tax forms you need to file ? No problem ! After we collect some basic information, we ’ ll give you a checklist. here ’ s how to file your U.S. exile taxes on-line :
- Head over to our Ways to File page
- Pick your journey—in the driver’s seat with our online DIY tool or letting a Tax Advisor take the wheel.
- Once you’re through your chosen journey, you review your return and pay
- We file your return with the IRS
- You sit back knowing your taxes were done right
fix to get started on your U.S. taxes ? No matter where in the populace you are, we ’ ve got a tax solution for you. Get started with our made-for-expats online expat tax services today!