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I also want to note that the USA is the only country in the world to base income taxation on citizenship/green card and residency, vs residency only for the res
by mahyarm 15y ago
I also want to note that the USA is the only country in the world to base income taxation on citizenship/green card and residency, vs residency only for the rest of the world. Be a citizen of anywhere else and you can be really tax free/low tax.
- travisp 15y agoNot only does the US tax its citizens who live and work abroad, it will also do so for 10 years after one renounces citizenship.
- Jach 15y agoHow do they enforce that one, or even get a hold of your income to know how much they're missing out? Or is it just a general "set foot on this country again and it's prison time for you"?
- mahyarm 15y agoYou have to submit accurate tax returns with possible audits resulting extraditions and criminal charges if you don't. And there is FBAR.