How does living abroad impact the taxes an American has to pay? Unlike most countries that taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities.
based on residency, the US employs citizenship-based taxation, meaning Americans are taxed on their global income regardless of where they reside. This unique system creates a web of complexities, including stringent reporting requirements and potential penalties, which can leave many US citizens feeling overwhelmed.
In this discussion, Marylouise Serrato from American Citizens Abroad, joins Kyle Hulehan to explore the implications of Foreign Account Tax Compliance Act (FATCA) for Americans living outside the United States. Together, they’ll unpack the compliance hurdles and misconceptions surrounding US tax obligations abroad, offering insights on the future of tax policy and its impact on the global American community.
Links
-
- American Citizens Abroad See more
Apple Podcasts Google Podcasts Spotify
Castbox Stitcher Amazon Music RSS Feed
Share