1. The company I work for has a US subsidiary and wants to relocate me and my family to the US starting 1 January 2013 for a duration of 2 years.
2. They will put me on US payroll - salary package is around USD100,000 per annum.
3. I have a US passport and have been living in Singapore for most of my adult life. I also hold a Malaysian passport. I have never lived in the US.
4. I do not have a US social security number.
As a dual-citizen (US and Malaysia), you're required to file US tax return and other information return reporting your foreign income and assets, even though you have never lived in the US. You should consult a tax lawyer or accountant to determine and manage your risk, both in terms of tax liability and penalties. The IRS currently has guidelines out for US citizen living aboard to file late tax and informational returns without facing any penalties.
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This somewhat depends on your immigration status. Since you hold a US Passport, I will assume that you will fall into the category that does not require withholding at a flat 30%. This is generally good news since you should be allowed deductions and credits to lower your effective tax rate. While it is difficult to prospectively estimate your rate without prior history, you should be somewhere around 25% (assuming certain credits and deductions).
This answer does not establish an attorney-client relationship, Moreover, this attorney is Licensed to practiced law ONLY in LOUISIANA and answers to questions from other jurisdictions or states are meant to provide only general information. Users should contact a local attorney in their jurisdiction or state.
As noted, it's tricky to determine the resulting tax without having all the details. But there will be a withholding on the income earned which you may be able to get refunded depending on what expenses/exemptions apply in your situation. You'll also probably need to get a tax ID number so it can be reported.
Evan A. Nielsen
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Evan A. Nielsen is licensed to practice law in California. The information provided here is for educational purposes only and is not intended as legal advice for a particular matter. This response does not create any attorney-client relationship with the author. For specific advice about your particular situation, please consult an attorney.
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Both of my colleagues have provided an excellent response to your question. I couldn't have answered it better myself.
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