001Diana

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1.
by 001Diana 5y ago
It isn’t complicated to file FBAR, but why should we have to give all our bank account details to the US when citizens living there would only have to under criminal investigation? Also if the US decides you are owing taxes/fines and y
2.
by 001Diana 5y ago
The issue is that the US can determine she didn’t file, file for her, and assess fines/tax. Once that gets to $50k she can’t renew her passport, and can no longer enter or leave the US as the law states she can’t use her foreign passpo
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by 001Diana 5y ago
Yes, and if you aren’t 5 years tax compliant when you pay that $2350 you owe 20% of the value of all your assets too.
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by 001Diana 5y ago
Owning a business in a country where the taxes are lower than the US corporate rate triggers double tax, as well as any passive income investments. The US can tax a residence that sells for a profit while the residential country will not. D
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by 001Diana 5y ago
This is banning reentry for those who have stated their reason for renouncing is due to tax avoidance. When I renounced I began telling them it was due to tax compliance, and they were very careful to not let me say tax avoidance. It is co
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by 001Diana 5y ago
It would have sounded ridiculous to me too had I not lived it. It’s the tax compliance, not the paying of taxes that is the issue. Most of us will never pay, we already pay more in the country we live in. The tax compliance enforcement cost
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by 001Diana 5y ago
Americans living overseas generally go by a different financial year, for example, in Australia the financial year is July1-June 30. All income and business records need to be made to fit the US financial year. We also have different much
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by 001Diana 5y ago
This is not “having your cake and eating it too,” it’s much more complex. It also is never a case of “the country wasn’t good enough to live in.” I would love to live in the USA. That is not where life took me. At its simplest Americans are