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In reply to the discussion: If you know any American persons living in another country than America than please let them know [View all]Douglas Carpenter
(20,226 posts)46. an established bona fide non-resident U.S. Citizen is exempt from about the first $94,000 - annually
of earned income - but they have to file and declare the income and they do have to spend a full 365 days outside the U.S. with no more than 30 days back inside U.S. territory --- Reference IRS Form 2555 or 2555EZ for the finer details.
This is also the case with almost every other country in the world - Even Sweden exempts almost all foreign earned income with rules considerably laxer than the U.S.
For some finer details regarding U.S. Tax law for foreign earned income:
http://www.irs.gov/pub/irs-pdf/i2555.pdf
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If you know any American persons living in another country than America than please let them know [View all]
riverbendviewgal
Jul 2013
OP
Indeed. My sis in law and my nephews went to Ireland. They are now Irish citizens!
SugarShack
Jul 2013
#53
Exactly. People have no inkling how many people this impacts who have no US interests
NoOneMan
Jul 2013
#22
i'd like to see some support for the proposition that you can renounce your citizenship & still
HiPointDem
Jul 2013
#25
us has the banks where you have accounts report for 10 years after you renounce
riverbendviewgal
Jul 2013
#38
If they earn the income in this country, they pay the taxes to this country.
Common Sense Party
Jul 2013
#51
First off, it'd be fine with me if the US tax system wasn't broke in the first place
NoOneMan
Jul 2013
#15
There are many treaties that prevent double taxation of people who are citizens of one country but
pampango
Jul 2013
#20
I know people who are Americans living abroad and they only wind up paying US taxes on
Bluenorthwest
Jul 2013
#37
Here is a letter from Rand Paul and others that will interest you. to Geithner
riverbendviewgal
Jul 2013
#61
an established bona fide non-resident U.S. Citizen is exempt from about the first $94,000 - annually
Douglas Carpenter
Jul 2013
#46
The thing is that FATCA is a money maker...and taking from the easiest and those not the one percent
riverbendviewgal
Jul 2013
#57
There’s no way anyone can put enough lipstick on this pig to make it kissable.
riverbendviewgal
Jul 2013
#59