top | item 34465854

(no title)

70rd | 3 years ago

What exception? If you are a citizen and intend on returning to the US (or even intend to renounce) you should be in good standing with the IRS (FBARs and annual filings). You owe the difference between locally paid taxes and federal taxes, and can claim overpayment as tax credits.

Most low-earners don't bother with this and use the Foreign Earned Income Exclusion Act [1]. Don't forget about FBARs if you have more than 10k across foreign banks accounts.

[1] https://www.irs.gov/individuals/international-taxpayers/fore...

discuss

order

londgine|3 years ago

Sorry, I meant exemption not exception. I was referring to the foreign earned income exclusion act. I never have to pay US taxes due to that, however I still have to file. Since I don't know the tax law, and I would hate to be on the bad side of the IRS, I hire a CPA every year. I am hoping that this year I may find a site that supports foreign citizens.