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The United States taxes its citizens' income worldwide, at least above a certain income threshold, and from my understanding requires yearly filing regardless.
by facetube 10y ago
The United States taxes its citizens' income worldwide, at least above a certain income threshold, and from my understanding requires yearly filing regardless. IMO it's unlikely that simply moving to a different country would allow you to dodge a federal mandatory pension (provided it happened in the US).
- maxerickson 10y agoSocial security has an awful lot in common with a federal mandatory pension. If anything, it would probably be easier to opt out of a pension system (where pension implies that the individual benefit is more fully funded by the individual payments). People that can show they are making payments into a similar program elsewhere often don't have to make social security payments. https://www.ssa.gov/international/agreements_overview.html https://www.ssa.gov/international/agreements_overview.html
- kevinpet 10y agoSocial security is the United States' federal mandatory pension, and it does not generally apply to foreign income (unless in a country that also has a mandatory pension with which the US has a tax treaty). https://www.irs.gov/individuals/international-taxpayers/social-security-tax-consequences-of-working-abroad https://www.irs.gov/individuals/international-taxpayers/soci...
- benjohnson 10y agoOddly enough, you can opt out of the Social Security - some employees of government agencies don't have to contribute and some religions are also exempt. Personally, I feel that anybody should be able to permanently opt-out if desired.
- facetube 10y agoI worked for one of those organizations in the past, which seems to have skewed my view quite a bit. Thanks for the corrections.