6. Report all foreign income
No matter where you earned a part of your income, you have to report that chunk of money on your tax return, too. All financial and tax experts say that people must understand that ALL types of income must be reported, foreign or not.
If you actually fail to report your foreign income for several reasons (maybe you just forgot, or you’re trying to fool Uncle Sam), you will most likely face an audit. In fact, if you are hiding offshore money, you could be guilty of a crime. That’s the law…
Wondering why you should file your taxes early? Here Are 5 Money-saving Reasons!