dockingtrade
Registered User
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- 342
Hello,
A friend living in america wants to take her savings from and irish bank and lodge it in a US bank. Living and working for the last 10 years in the states just kept up paying into a deposit account here, so started out as an irish resident but now no longer irish resident and now a US resident and citizen.
If she brings the money back is there an agreement with the usa, as in she would get credit for dirt here on any interest earned over the last 10 years. ie woulndt be doubled taxed on interest earned.
I assume for interest purposes for 10 years she could show eg deposits = 80k value today = 90k => interest after tax =10k?
Was dirt always taken at source here?
Informing the us tax people she had a foreign account for 10 years could be tricky?? Paying tax on the interest insnt the main issue its just the that the amount will be flagged, i assume.
Thanks
A friend living in america wants to take her savings from and irish bank and lodge it in a US bank. Living and working for the last 10 years in the states just kept up paying into a deposit account here, so started out as an irish resident but now no longer irish resident and now a US resident and citizen.
If she brings the money back is there an agreement with the usa, as in she would get credit for dirt here on any interest earned over the last 10 years. ie woulndt be doubled taxed on interest earned.
I assume for interest purposes for 10 years she could show eg deposits = 80k value today = 90k => interest after tax =10k?
Was dirt always taken at source here?
Informing the us tax people she had a foreign account for 10 years could be tricky?? Paying tax on the interest insnt the main issue its just the that the amount will be flagged, i assume.
Thanks
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