Yes you do. Also, if you have bank accounts
Yes you do. Also, if you have bank accounts in Panama over $10,000, you have to file the FBAR (Form TD-F 90-22.1) and over $50,000 the form 8938 reporting your foreign bank accounts and corporations. You also have to report any interest earned on foreign accounts.
The earned income credit is a benefit. You can exclude about $92,000 of income earned in Panama (other than interest). You can figure all of this using TurboTax. If you do not report, there can be dire penalties.
The earned income credit is a benefit. You can exclude about $92,000 of income earned in Panama (other than interest). You can figure all of this using TurboTax. If you do not report, there can be dire penalties.
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