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Yes. The process of filing taxes in the US for citizens living abroad is complicated enough that it warrants hiring an accountant. This is a few hundred bucks w
by koliber 9y ago
Yes. The process of filing taxes in the US for citizens living abroad is complicated enough that it warrants hiring an accountant. This is a few hundred bucks whether you end up owing tax or not. Additionally, there is a mandatory filing of foreign bank accounts called FBAR. This is a real pain in the butt as the process is cumbersome.
All in all, I waste one day of productivity per year because of the IRS and FBAR filing requirements. I don't have to pay any tax.
- zinckiwi 9y agoCurious, as this will start to affect my family soon: is TurboTax and its ilk not up to this task yet? (That is, a net nil return on foreign income given a double-taxation treaty.)