B
bobmurphy
Guest
Hello
My family and I moved from Ireland a few years back for work reasons. We have property in Ireland; however, I've never admited to this on any of the paperwork I've filled out before for the the government. As far as the government knows, I own nothing. This decision is hanging over my head like a dark cloud these days.
Originally I wasn't sure how long I'd stay, but the family is used to this country so now were here for good. We'd like to buy a house in this country but can't afford it solely on my income.
1) I could sell my irish property and take that sum of money over here. Will the u.s. government try to tax me on this money at some point? And if they find out this money is from the sale of property I wasn't supposed to have, how much trouble am I in?
2) If we don't sell our property, and instead rent it out (the rental market is good over there now) can the u.s. government tax us on that income in the following cases: a) all the money stays in Ireland (simply paying of the mortgages we have on those properties) and/or b) we divert some of the rental income to supplement our u.s. income (to help pay for a u.s. home)
Currently, we're permanent residents, and will apply for citizen when eligible.
Thanks for any advice you can offer.
Bob Murphy
[email protected]
My family and I moved from Ireland a few years back for work reasons. We have property in Ireland; however, I've never admited to this on any of the paperwork I've filled out before for the the government. As far as the government knows, I own nothing. This decision is hanging over my head like a dark cloud these days.
Originally I wasn't sure how long I'd stay, but the family is used to this country so now were here for good. We'd like to buy a house in this country but can't afford it solely on my income.
1) I could sell my irish property and take that sum of money over here. Will the u.s. government try to tax me on this money at some point? And if they find out this money is from the sale of property I wasn't supposed to have, how much trouble am I in?
2) If we don't sell our property, and instead rent it out (the rental market is good over there now) can the u.s. government tax us on that income in the following cases: a) all the money stays in Ireland (simply paying of the mortgages we have on those properties) and/or b) we divert some of the rental income to supplement our u.s. income (to help pay for a u.s. home)
Currently, we're permanent residents, and will apply for citizen when eligible.
Thanks for any advice you can offer.
Bob Murphy
[email protected]