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Taxation of U.S. Residents

Taxable Income

A U.S. resident's income is generally subject to tax in the same manner as a U.S. citizen. If you are a U.S. resident, you must report all interest, dividends, wages or other compensation for services, income from rental property or royalties, and other types of income on your U.S. tax return. You must report these amounts whether they are earned within or outside the United States.

Tax

U.S. residents are generally taxed in the same way as U.S. citizens. This means that their worldwide income is subject to U.S. tax and must be reported on their U.S. tax return. Income of residents is subject to the graduated tax rates that apply to U.S. citizens. Residents use the Tax Table and Tax Rate Schedules that apply to U.S. citizens found in the Instructions for Form 1040 (Link opens in a new windowhttps://www.irs.gov/forms-pubs/about-form-1040) and Form 1040-SR (Link opens in a new windowhttps://www.irs.gov/forms-pubs/about-form-1040-sr).

Filing Status

U.S. residents can use the same filing statuses available to U.S. citizens. You can claim the same deductions allowed to U.S. citizens if you are a resident for the entire tax year. You should refer to Form 1040, Form 1040-SR and the Instructions for Form 1040 and Form 1040-SR for more information on how to claim your allowable deductions.

Claiming Exemptions

For tax years beginning after December 31, 2017, you cannot claim personal exemptions for yourself, your spouse, or your dependents. See Publication 501, Dependents, Standard Deduction (Link opens in a new windowhttps://www.irs.gov/forms-pubs/about-publication-501) and Filing Information and Aliens - Repeal of Personal Exemptions (Link opens in a new windowhttps://www.irs.gov/individuals/international-taxpayers/aliens-repeal-of-personal-exemptions) for more information.

Caution: Your spouse and each dependent must have either a Social Security Number or an Individual Taxpayer Identification Number to be claimed as a dependent.

Deductions

U.S. residents can claim the same itemized deductions as U.S. citizens, using Schedule A of Form 1040 or Form 1040-SR. If you do not itemize your deductions, you can claim the standard deduction for your filing status. For further information, see Form 1040, Form 1040-SR and their instructions.

Tax Credits

U.S. residents generally claim tax credits and report tax payments, including withholding, using the same rules that apply to U.S. citizens. For further information, see Form 1040, Form 1040-SR and their instructions.

Forms and Due Dates

U.S. residents should file Form 1040, U.S. Individual Income Tax Return or Form 1040-SR, U.S. Tax Return or Seniors at the address shown in the instructions for those forms. Generally, the due date for filing the return and paying any tax due is April 15 of the year following the year for which you are filing a return. You are allowed an automatic extension to June 15 to file if your main place of business and the home you live in are outside the United States and Puerto Rico on April 15. You can get an automatic extension of time to file until October 15 by filing Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return (Link opens in a new windowhttps://www.irs.gov/forms-pubs/about-form-4868), on or before April 15 (June 15 if you qualify for the June 15 extension). See the instructions for the form you are filing for more information.