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…
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…
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.
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…
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…
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…
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…
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.
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…
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…