NEW YORK —Globe Afrique Media and Communication has initiated a research on naturalized US citizens living and working abroad, especially in African countries who have either refused to file US federal and state taxes or are under-reporting their income and assets.
In a recent assessment conducted by Globe Afrique, hundreds of thousands naturalized U.S. citizens are earning thousands and millions of dollars in Africa but have refused to adhere to the rules and regulations of the US Treasury’s Internal Revenue Service tax code. The Globe Afrique Media and Communications’ research report is expected to name individuals (naturalized U.S. citizens), the country they work in and their estimated income and assets that have been unreported, not reported or under-reported to the US Internal Revenue Service.
Under U.S. laws, if one is a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether the person is in the United States or abroad. U.S. citizens’ worldwide income is subject to U.S. income tax, regardless of where an individual resides.
Since December 4, 2015, if a US citizen owes significant taxes to the IRS, the U.S. State Department now has the authority to deny or even revoke his or her passport.
Several naturalized U.S. citizens in several African nations have acquired tremendous wealth and owned assets and other properties that they have failed to report to the U.S. government as a way of tax avoidance. Other naturalized Africans educated in the U.S. on tax-payers’ monies known as Student Loan have also reneged on repaying their loans and instead relocated to few African states where they work in lucrative positions, live comfortable lives while other U.S. taxpayers pick up the tap.
In Globe Afrique’s preliminary inquiry, it is discovered that several naturalized U.S. citizens with African back heritage have and continue to acquire wealth legally and illegally in several African nations without proper reporting of their income. Private investigators, in collaboration with Globe Afrique Media and Communications, have and continue to research the individuals involved.
The report, which will be done on a country to country basis, when completed will be forwarded to the appropriate committee of the US Congress and Senate, and the Ombudsman’s office of the US Internal Revenue Service for follow up action and additional global investigations into the assets and earning of all naturalized US citizens living and working in Africa such as Nigeria, Sierra Leone, Kenya, Senegal, Liberia, the Ivory Coast, Zimbabwe and more.
Some have and continue to file their taxes while working in Africa but they have underreported their actual income and other assets.
When to File
According to the U.S. Internal Revenue Service, if you are a U.S. citizen or resident alien residing overseas, or are in the military on duty outside the U.S., on the regular due date of your return, you are allowed an automatic 2-month extension to file your return and pay any amount due without requesting an extension. For a calendar year return, the automatic 2-month extension is to June 15. If you qualify for this 2-month extension, penalties for paying any tax late are assessed from the 2-month extended due date of the payment (June 15 for the calendar year taxpayers). However, even if you are allowed an extension, you will have to pay interest on any tax not paid by the regular due date of your return (April 15 for the calendar year taxpayers).
If you qualify for the 2-month extension but are unable to file your return by the automatic 2-month extension date, you can request an additional extension to October 15 by filing Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return, before the automatic 2-month extension date. However, if you qualify for the 2-month extension, penalties for paying any tax late are assessed from the extended due date of the payment (June 15 for the calendar year taxpayers). Otherwise, if you do not qualify for the 2-month extension, penalties for paying late are assessed from the original due date of your return (April 15 for the calendar year taxpayers). Also, even if you are allowed extensions to June 15 and/or October 15, you will owe interest on any unpaid tax amount from the original due date of the return (April 15 for the calendar year taxpayers).
Where to File
If you are a U.S. citizen or resident alien (Green Card Holder) and you live in a foreign country, mail your U.S. tax return to:
Department of the Treasury
Internal Revenue Service Center
Austin, TX 73301-0215, USA
Estimated tax payments should be mailed with form 1040-ES to:
Internal Revenue Service
P.O. Box 1300
Charlotte, NC 28201-1300
Source: Globe Afrique Media