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    wqs's Avatar
    wqs Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 12, 2012, 01:56 PM
    l1 visa tax
    Hello, I will relocate to the US assinged by my company holding a L1 visa. My questions are
    1. Will the U.S. government tax me for the savings in my own country?
    2. If I transfer all my savings to my U.S. account, will it be taxed?
    Thanks.
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Apr 12, 2012, 11:14 PM
    You are not taxed on your savings. You do not pay any tax on transferring money to U.S.
    On L1 visa if you are considered resident for tax purposes, you must report your worldwide income on the tax return. If you paid taxes in the foreign country, you will claim credit for taxes paid in the foreign country by filing Form 1116 or can file form 2555 Foreign Earned Income Exclusion. Your U.S. Tax Return: The U.S. Visas
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