Hi,
Im an American and British citizen. I am a house wife and make no income, however my husband and I have a joint account.
do I have to still file taxes to the US and declare my account? I’m reading online I have to file an FBAR?
im just a stay at home mother, do I really have to file taxes to the US?
@Catcann14 , generally
(a) US does not recognize any effects of dual citizenship i.e. US will treat a US person ( citizen/GreenCard/ Resident for Tax purposes ) as a US person ONLY ( for tax purposes ).
(b) In your specific case since ONLY you are a US person ( assuming that your spouse is not a US person ), you are subject to FBAR, FATCA regs in addition to usual Tax filing requirements. Your should have none. Thus any joint accounts ( i.e. accounts jointly owned / operated or with signature authority over ) come under FBAR / FATCA regs. Note that unless the ownership percentage is declared, it is assumed as total ownership.
Does this help ? Is there more I can do for you ?
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