If I won a large sum of money in a foreign country say England would I have to pay taxes on it here?
954375
united states taxes its resident/citizen on the world-wide income.  so yes.  there might be some speacial tax treaty with England but i am not familier with that part of the tax code.  but at minimum you might be qualified for a tax credit for the foreign taxes you already paid to ease your pain.\n\nso does california.
362877
This is basically a lottery scam.\nYou end up paying for the fees with a fake cashiers check.\nThese can be faked as well as a personal check but make people feel safer because they are "cashiers check"\n\nYou cannot have an international lottery as the gambling laws differ in every country.\nThe scammers say it is "International" so as to cover every country.\nLotterys work like this:\n1)10,000 people pay 1 dollar/euro/pound/yen....etc\nThe lottery company now has 10,000\n\n2) the lottery company holds a draw and gives out 7,000 in winnings (and keeps the profit 3,000)\n\nScams work like this:\n-1)nobody pays money (there is no money to win)\n\n0)a scammer sends out 10,000 spam emails to tell people they have won a lottery they havn't entered.(they pretend they work for real lottery websites)\n\n2)The Scammer asks for your Personal details (be prepared! your inbox is going to be full of emails asking for you personally...and dont get me started on what they are gonna do with your Bank details!)\n\n3)The scammer tells you that you have to pay fees before you can accept the "winnings" (and NO,you cant pay out of the winnings! they dont exist!....silly maga)\n\n4)The scammer manages to con 3 people out of 1000 and gives all his profits to a charity for orphaned goats (he dosn't really...he keeps it ;) )\n\n5)Your inbox gets more mails than help@microsoft.com\nEverything from "You have won anotther sooperdooperlottry" to "CHAN U B A NEXT OF KIN" to "Please join our company,cash our checks,send us the money until your bank realises you are laundering money for us?)\n\nThe moral of the story is...If it sounds too good to be true... It probably is\n\n\n\nThe money orders will be fake....very good fakes.\nYou can hand them to a 25yr old bank teller and they wont know the difference.\nThe checks go in your account.\nYour bank "HONOURS" the checks\nYou send the money to the scammer in Nigeria\nThe bank sends the check back to the issuing bank (can take up to 6 months)\nThe Issueing bank refuses to "CLEAR" the check.\nYour bank says"Hey...you put in a fake check ....wheres the money?"\nYou say" I sent it to [insert scammers name here] by western union money transfer(untracable) to that lovely man/woman/both in Nigeria"\nThe bank says"??? you robbed your own bank???"\nYou plead Ignorance..."Im innocent" etc\nThey say "But YOU put the check in our bank...." and you do jail time for bank fraud\n\n"419" scammers....dont ya love 'em\nwww.fraudwatchers.org\nwww.scamomatic.com
385028
In general, yes.  US rules governing taxation of international business are among the most complex tax rules in existence.  Coincidentally, I've spent the last 30 years learning them.\n\nIf you invest in a business directly as a branch/proprietorship or through a partnership, you will pick up your share of the income just as you would in the United States.  You may be entitled to a credit for any foreign income taxes that you pay.\n\nIf you invest through a foreign corporation, you may be able to defer income until you receive a dividend or sell your shares.  However, there are elaborate rules which in some cases require you to pay tax on undistributed income of a controlled foreign corporation.\n\nDepending upon the size of the investment, you should get appropriate professional advice.  Remember that free advice is worth just what you paid for it!
231737
Yes, you need to pay tax on it.  Just because you did not receive money -- you had income in either an S corporation or an LLC.  The income in these 2 entities is passed down to the owners of the business and is taxed at that level.
143302
You earn money based in the state you are employed.  Many employees are expected to go out of state for training or conferences.\n\nIf you get millions (plus) for your JOB, then going out of state for that job is still taxable.  Be it a game or a desk job.\n\nYes, they need to pay state taxable income, if that state requires it. If they don't dig it, go to another state to play.
344961
It is a scam.\nYou cannot have an international lottery as the gambleing laws differ in every country.\nThe scammers say it is "International" so as to cover every country.\nLotterys work like this:\n1)10,000 people pay 1 dollar/euro/pound/yen....etc\nThe lottery company now has 10,000\n\n2) the lottery company holds a draw and gives out 7,000 in winnings (and keeps the profit 3,000)\n\nScams work like this:\n-1)nobody pays money (there is no money to win)\n\n0)a scammer sends out 10,000 spam emails to tell people they have won a lottery they havn't entered.(they pretend they work for real lottery websites)\n\n2)The Scammer asks for your Personal details (be prepared! your inbox is going to be full of emails asking for you personally...and dont get me started on what they are gonna do with your Bank details!)\n\n3)The scammer tells you that you have to pay fees before you can accept the "winnings" (and NO,you cant pay out of the winnings! they dont exist!....silly maga)\n\n4)The scammer manages to con 3 people out of 1000 and gives all his profits to a charity for orphaned goats (he dosn't really...he keeps it ;) )\n\n5)Your inbox gets more mails than help@microsoft.com\nEverything from "You have won anotther sooperdooperlottry" to "CHAN U B A NEXT OF KIN" to "Please join our company,cash our checks,send us the money until your bank realises you are laundering money for us?)\n\nThe moral of the story is...If it sounds too good to be true... It probably is\nSource(s):\n\nwww.fraudwatchers.org\nI spoke to Bill Gates lastnight and he knows nothing about it...honest...I did!
1050833
Depends on the country.\n\nAlright, saying the UK makes this answer very simple. Pick up the nearest tabloid. You'll see one of three people on the front. All three have the same first name: Prince. Either William, Harry, or Charles will follow.\n\nThat's where your tax money is going.
395358
If you really do have big winnings - as in life-changing - then you should have a lawyer and a financial advisor.  They will tell you where to pay taxes.\n\nI can't see why it would be hard to figure this out, though.
1151567
Hi there\n\nImporting will be liable to duty, in this case VAT.  You can get full details on the government website http://www.hmrc.gov.uk\n\nYou can also find out info from sites that import, one example is http://www.bestdiamonds.co.uk who import their diamonds from Antwerp.  \n\nI hope this helps, if you do not find what you want above email me and I will explain some more.\n\nGood luck
940424
Yes. It is income and in the US you are going to pay taxes on income. (MOST of it anyway). There is more that is needed to answer the question. If the earnings are from the sale of the account then you might have Capital Gain. As an accountant my best advice is to contact an accountant. Probably not much help for your question but there are too many variables to fully answer.
568820
It is a scam.\nYou cannot have an international lottery as the gambling laws differ in every country.\nThe scammers say it is "International" so as to cover every country.\nIf you want to check a email you think might be a scam go to www.scamomatic.com\nLotterys work like this:\n1)10,000 people pay 1 dollar/euro/pound/yen....etc\nThe lottery company now has 10,000\n\n2) the lottery company holds a draw and gives out 7,000 in winnings (and keeps the profit 3,000)\n\nScams work like this:\n-1)nobody pays money (there is no money to win)\n\n0)a scammer sends out 10,000 spam emails to tell people they have won a lottery they havn't entered.(they pretend they work for real lottery websites)\n\n2)The Scammer asks for your Personal details (be prepared! your inbox is going to be full of emails asking for you personally...and dont get me started on what they are gonna do with your Bank details!)\n\n3)The scammer tells you that you have to pay fees before you can accept the "winnings" (and NO,you cant pay out of the winnings! they dont exist!....silly maga)\n\n4)The scammer manages to con 3 people out of 1000 and gives all his profits to a charity for orphaned goats (he dosn't really...he keeps it ;) )\n\n5)Your inbox gets more mails than help@microsoft.com\nEverything from "You have won anotther sooperdooperlottry" to "CHAN U B A NEXT OF KIN" to "Please join our company,cash our checks,send us the money until your bank realises you are laundering money for us?)\n\nThe moral of the story is...If it sounds too good to be true... It probably is
679578
First of all, if a cheque was issued in your name there is already a paper trail created. Whether you deposit it or cash it won't matter. A trail has been created. The only way it would have gone unnoticed is if you received cash.\n\nNext, since you are not a citizen if you leave you will probably get away without paying tax. However, depending on the bill and if you live in a country with a treaty with the country you are visiting now then there may be a way for them to obtain the money owed them. This chance is slim however.\n\nNonetheless, if you do have a bill outstanding and try to return to the country you are in now, you may get caught then and it may not simply be a case of paying your outstanding bill. You may be charged with tax evasion.
699529
=not sure about the UK, but here in the states not at all.  For the most part they have put in the time and have already paid state taxes on that money.
765951
Yes ... before you leave the country, be sure to ask customs for the tax rebate form.
98036
I lived in the UK for 4 years, and didn't know I was supposed to report my taxes the whole time!\n\nYou don't have to pay taxes on your earning overseas b/c you paid them to the Irish gov't.  It's called a foreign tax credit, or something.  I downloaded the forms off the irs site and sent it in.  I didn't even send any docs with it b/c I never recieved any.\n\nThis best info I got from that was actually the webiste for the American Embassy in England.  Hope that helps.
216182
I don't think so. If you want to avoid tax, go to somewhere where they don't have it. Maybe use Swiss bank accounts too.
631114
Technically yes - but only on a proportion of the total gain.  The period relating to your living there is exempt from CGT, as is a further three years (based on an old assumption that it may take you a long time to sell).  There are further exemptions depending on your circumstances - eg if you are employed abroad or working away from your home town for certain periods.  It is more complicated if you own a second home as well, in which case you should get specific advice - or put more details on here and I`ll try to help!