My foreign bank account earns a small amount of interest. Do I have to report this on my U.S. tax return?
Yes, you should report all income received, irregardless of the source and amount. The United States taxes its residents on their worldwide income.
All About Randall Brody
Randall is the Founder of Tax Samaritan, a boutique firm specializing in the preparation of taxes and the resolution of tax problems for Americans living abroad, as well as the other unique tax issues that apply to taxpayers. Here, they help taxpayers save money on their tax returns.