Forum Replies Created
-
Posts
-
I agree with most everything that has been said so far. However, I would strongly suggest that you get in touch with a qualified International Tax Attorney as quickly as possible.
Only because there are some stiff fines and penalties that the IRS will impose on you( and they can go back in time as far as they want to) Keep in mind the IRS agents are on an incentive program and get paid huge bonuses for the tax revenue they are able to collect..
There are issues with you using your condo or letting others use it if it is in a rental pool. ie: you must declare revenue to the IRS at the published rental rate for yourself and friends using the condo.
You could say it is “Ghost Revenue” that the IRS expects you to pay taxes on.
This was the issue that tripped me up as well as having more than $10,000 in a Costa Rica bank.I too paid all the Taxes in Costa Rica and was told that it wasn’t necessary to file with the US IRS.
I can provide you with the name of the Attorney that saved me if you are interested. He is in Little Rock Arkansas and he too worked at the IRS at one time. You can contact me here (jlsret95)
