Zmir
New Member

Foreign savings account interest.

I am a usa citizen. New york city resident. Will be permanently moving to a foreign country. I am going to open a savings or a cd account which will be my only source of income. No work. Just bank interest income. 

 

Do I need to file taxes on that interest income which will be around $12,000 a year. That's my only source of income. 

 

How much tax can I be charged? Federal and nys tax.