RSU TAX

Uber / Other
PaulFenix

Go to company page Uber Other

PaulFenix
Aug 30, 2018 8 Comments

This is a complex one but many people in my company will soon face this issue.

I worked for the international branch of my company in Asia. Was awarded 5000 RSU on joining and paid tax on all of this amount (per Singapore law) prior to leaving Singapore 2 years later and taking on a role in the US. Iโ€™m not a citizen.

So the first 2year of vested RSU is clear (I think) - no US tax required. When the company IPOs next year if I am mistakenly taxed on the stock I vest before moving to the US I will claim all that tax back. Is this correct?

The rest โ€˜vestedโ€™ while living in the US so I guess is classed as US income? Fine. So I have paid tax on this income in advance in Singapore so how would I claim this back? Could I do this using turbo tax or would I need a tax guy?

Do I need to prepare any evidences from Singapore to provide when filing the taxes? I believe I still have the tax demand notices breaking down the amounts but not sure if you provide evidence when filing taxes in US as I never did it before.

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TOP 8 Comments
  • Uber
    jFbC25

    Go to company page Uber

    jFbC25
    You need to talk to a CPA or tax lawyer
    Aug 30, 2018 0
  • Uber / Eng
    baษก

    Go to company page Uber Eng

    baษก
    Yeah, talk to a professional with expertise in international tax. No one on Blind is going to be able to give you knowledgeable advice.
    Aug 30, 2018 2
    • Uber / Other
      PaulFenix

      Go to company page Uber Other

      PaulFenix
      OP
      Maybe, but I wonder if others have already encountered this. International mobility is common in tech.
      Aug 30, 2018
    • Intel / Mktg
      nononsense

      Go to company page Intel Mktg

      nononsense
      There is too much individual component to this. Even if someone else encountered, there are too many specific variables and ymmv.

      But, in general, there are provisions for you to get credit for taxes paid to another country.

      Get professional advice.
      Aug 30, 2018
  • Square / Eng
    nom๐Ÿ”

    Go to company page Square Eng

    nom๐Ÿ”
    These RSUs from before you became a US tax payer are the same as any other asset you had before you came here. You only need to pay capital gains on them when you sell them, if you sell while you're a US tax payer. If you don't sell, they won't even know you had it, as tax returns only report taxable income, not assets.

    If their value is high you might need to report FBAR though, so check that out.

    If you do sell as a US tax payer, the custodian of the stock should provide documentation about the sale, including the tax basis (the amount from which you need to pay capital gains).
    Aug 30, 2018 0
  • Amazon
    ThisGuy!

    Go to company page Amazon

    ThisGuy!
    You can deduct taxes paid on the same income paid to a different country.
    Aug 30, 2018 0
  • Cisco
    Sipowicz

    Go to company page Cisco

    Sipowicz
    Just spend the money and talk to a CPA. Youโ€™ll likely get differing opinions here which may or may not be right.
    Aug 30, 2018 0