Apologies if this has come up before but I couldn't find anything specific:
I have a bunch of vested shares acquired via an Employee Share Scheme in work sitting in a US Brokerage Account for the past number of years.
Being completely ignorant of investments and tax concerns in general until very recently I naively assumed all my tax liabilities were "taken care of" since nobody had actually approached me and stated otherwise.
So my question:
Am I liable for income tax on these automatically reinvested dividends even though the moneys never left the brokerage?
Thank you for reply. I was asked a few times when lodging some $ denominated dividend Cheques if they were actually dividends. Asked accountant friend of mine as I thought it was odd question myself and she said that Noonan introduced that requirement in one of his early budgets and that it was up to people to claim bk from revenue if excess tax stopped. I was curious to know if it was factual or not