As I understand it though, I only need to file if I have earned money, and if there is no record that I have, the burden of proof is on the IRS. True. It's called an audit. Happens to expats all the time, where they live. My boss here in Hong Kong got audited last year, had to pay a small bundle. Some US laws apply to US citizens even overseas.You CAN, of course, relinquish your citizenship if paying US taxes is morally or otherwise repugnant to you. But you cannot relinquish citizenship to evade taxes--the State Department won't go for it. IF you haven't filed in 10 years, you'll be hardpressed to prove that tax evasion isn't your basis.Like I said, it makes no sense to get oneself into this sort of situation when it's so easy to go tax-free legitimately. Even if you made much more than the foreign income exclusion, the foreign tax credit for any taxes you pay in your resident country would probably offset any US tax due. The prior poster gave you some good advice.kse4
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra