You are viewing a single comment's thread from:
RE: 3 Reasons It Sucks To Be a US Citizen When Living Overseas
I enjoyed reading your post but never experienced the taxation issues you address. I'm a U.S. citizen, born and bred, and lived in Mexico for ten years, not overseas, perhaps it's different there. Made good money and the IRS never contacted me ever, nor did my Mexican banks contact the IRS. They never got one cent from me or the dozens of Americans I've worked with over there.
It's a new law. This along with FATCAT pretty much make it impossible to work overseas or with international clients anymore. Whether in the USA or abroad it's turning into a real PITA. I've cut out my entire foreign clientele that won't just pay with crypto.
It has gotten worse over the last few years.
One thing I didn't mention is that the USA has income tax treaties with most countries so you aren't taxed twice on the same income. And anything under about $100k per annum is exempt. But if the USA has the higher tax, then they'll want their cut. And no matter where you are, if you earn money, the IRS expects you to file a 1040. I'm sure there are plenty of people who fly under their radar though.