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Conversely, earned income abroad, and second income from foreign securities, rental, or everything else abroad, could be excluded from U.S. taxable income, or foreign taxes paid thereon, is required as credits against Ough.S. taxes due.
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(iv) All unaccounted income should be declared. If such a disclosure is conducted before its detection your Income Tax Department, the probability of being trapped from a tax raid are decreased.
Defenders in the IRS position would say it comes home to Section 61. The waitress provided a service for me, and I paid for the product. Compensation for services is taxable. End of case.
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