Worldwide Income Taxation for US Persons in Mexico | US International Tax Lawyer Alvarado Veracruz

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.

I’m continuing a series of vlogs from Alvarado, Mexico. In the first half of the series, I have focused on debunking various myths concerning US taxation for US persons who reside outside of the United States and in particular, in line with the general theme of this series of vlogs: Mexicans who acquired US tax status and continued to reside in Mexico.

Now that we’ve discussed where the wrong beliefs about US tax obligations of these persons, it is time now to turn our attention toward the actual, correct reporting obligations of US persons who reside in Mexico and we will begin with the most basic of them: worldwide income tax reporting.

A US person who resides in Mexico, and when I say a US person, I include Mexicans who acquired either US permanent residency or US citizenship and continue to reside in Mexico, for most of the year, at least. These persons must disclose their worldwide income on their US tax returns. Not just US-sourced income but worldwide income on their US tax returns. This is an absolute requirement and all US persons who reside in Mexico must comply with it.

This means reporting US-sourced income, Mexican-sourced income and any other income from whatever source or whatever country, it must be disclosed on US tax returns.

In the next vlog, I will continue discussing US tax obligations of Mexicans who acquired US status and continue to reside in Mexico.

Thank you for watching, until the next time.