If I live in Ireland, what is the Irish income tax burden?

[bedraggled]

Greetings and a new question for the good people of the Forum!

I have been doing my tax returns for 38 years- and I have an accounting degree, so doing taxes  can be interesting.

I am considering a move to Ireland that may last longer than 3 years.  Yes, I will be paying more in taxes but an Irish residency is  something I want to do as I enter retirement.  Back to NYC by 2020!

I understand my reporting requirements for my US filings but am having a tough time acquiring the info to file an Irish tax return.

Do I need to hire an accountant in Dublin to explain it all?  I can file the Irish return once I get the rules and tax charts. 

Here is a 'puzzlement' worthy of 'The King and I:" my 25% USA tax rate will probably count towards the Irish rate that may reach 42%.  (Or is it that the Irish taxes count towards my USA obligation)?  Then, do I attempt during the 3 years to have only pension income with no Social Security money collected until after 2020, and no investment withdrawals until after 2020?  Will this minimize my Ireland tax bill?  Or does Ireland demand tax paid on income received in USA?  Ireland may tax residents on income received worldwide.  Alas.

So, if you folks understand this issue and wish to share some wisdom or know where I can dig up info, that would be greatly appreciated.  Websites I have seen offer to prepare my returns as I am guided through the process for a handsome fee.  I don't need the hand holding.

Thanks.

[Pet Hog]

Bedraggled, it might not be a fun read, but some of your questions are probably answered in IRS publication 54, Tax Guide for U.S. Citizens and Resident Aliens Abroad.  There is a tax treaty between the US and Ireland, so you should have no concerns about double-taxation.  I think that, as a US citizen, you won't be taxed in Ireland for the money you earn in the US, but you will be taxed in the US for money you earn in Ireland.

[bedraggled]

Pet Hog,

Thanks.  THat's astart.  I love IRS Publications.  Recreational reading!

Bedraggled

[bedraggled]

Pet Hog,

Update: Pub 54 is meant for taxpayers who intend to work abroad.  I intend to be retired and have no foreign earned income.

Thanks,
Bedraggled/Kevin

[Pet Hog]

My gut feeling is that if you don't earn any money in Ireland then you would have to file only in the US.  When you say "Irish residency," do you mean you will be gaining residency in Ireland (like a US green card), or will you be there on a visa?  That might affect your tax status.

(Perhaps someone else could chime in who actually knows what he or she's talking about.)

Nevertheless, my advice would be to go to Ireland, enjoy yourself, and work out this bureaucratic stuff when you get there.  Discuss your situation with an accountant in Dublin over a pint of Guiness!

[bedraggled]

Pet Hog,

Yes, establish residency like an Irish "green caed."

Thanks.