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I am a green card holder and have a source of income from a family business in my home country. Do I have to disclose that income to the IRS and pay income taxes in Manhattan?

April 26, 2017Business country disclose family green card Home income income taxes source

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I am a green card holder and have a source of income from a family business in my home country. Do I have to disclose that income to the IRS and pay income taxes in Manhattan?

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If you are not an employee but receive wages from a family business, you are subject to paying U.S. and NYC income taxes while living in the U.S. File Form 1040NR-EZ as well as 1040NR in order to file your forms correctly. If you helped in the family business and did receive income from that business while you were employed but still resided in the United States while working, you will be subject to taxes as it will be considered income. You don’t need to pay your taxes twice so if you pay it in your country, you will need to add it to the forms when you file your taxes in the U.S.