US Tax on UK Income earned prior to becoming a US Resident

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Mar 19th 2010, 3:09 pm

#16

celticgrid

Wondering if...

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Re: US Tax on UK Income earned prior to becoming a US Resident

Quote:

Originally Posted by Bradford Lass

When we were getting 5% it was worth it and ultimately you are going to pay tax on any interest anywhere.

It is an inexact science. I still have an endowment policy (anyone else remember when they were all the rage?

) that matures soon. The gamble is that the later years fund increases will be worthwhile growth now that I assume the IRS will tax the 'interest' on it. Right now I have no idea how this will get declared, but right now it is accrued, not paid, so not a concern.