Hello and welcome to Sherayzen Law Office video blog. My name is Eugene Sherayzen and I’m an international tax attorney and owner of Sherayzen Law Office, Ltd. And today we are continuing our blog from the Czech Republic in Karlovy Vary. And in making this video one of my clients was a fan of James Bond. This is the place where ‘Casino Royale’ was filmed in 2006.
And an interesting thought occurred to me: ‘that had James Bond been a resident of the United States, the winnings that he made in this casino would have been taxed in the United States even though he made them here in Karlovy Vary in the Czech Republic.’ The reason for this is the unique rule in US International Tax Law that US Tax Residents, irrespective of their physical residence must report their worldwide income on their US Tax Returns.
So, James Bond, if he were a green card-holder, even though he was not in the United States would have to declare his income from Casino Pupp on his US Tax Returns.
Thank you for watching until next time…