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    lhickle's Avatar
    lhickle Posts: 1, Reputation: 1
    New Member

    Feb 26, 2009, 02:08 PM
    Bringing money from Foreign Country Bank
    What about a person who has money in a bank in Serbia and is now a citizen of the U.S. Do they have to pay taxes?
    DCcityboy's Avatar
    DCcityboy Posts: 648, Reputation: 27
    Senior Member

    Feb 26, 2009, 04:06 PM

    Yes, US tax code taxes on worldwide income. Consult an experienced CPA or tax attorney. There are many tax treaties to avoid double taxation.

    If this was helfpul, rate this answer. Good luck!

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