Monte Carlo TAX haven question?

-If I am an author from New Jersey, and I "move" to Monte Carlo, do I have to pay income tax to the US?



And what would I need to do so that my official residence would be considered Monte Carlo by the IRS?Yes you would continue to do so as you are supposed to have done in your past life time when you are a US citizen or Resident Alien you would report ALL of your worldwide sources of income on your correctly completed 1040 federal income tax return and would be required to pay your federal income taxes that would be due on any TAXABLE income amount that you would have at your marginal tax rate after the end of the tax year.



http://www.telegraph.co.uk/finance/globa鈥?/a>



Monaco might not charge residents income tax, but it's no tax haven

Monaco's policy of not charging residents income tax has fostered the common misconception that the country is an offshore tax haven, writes Evelyne Genta, the principality's ambassador to the UK.

Hope that you find the above enclosed Information useful. 07/01/2011US citizens are taxed on world wide income, regardless of where your residence is
You have to pay US Income Tax wherever you live in the world.