Hoping someone can help clear something up for me as I am confused beyond belief! Someone I know has kicked off at me and my mother about not paying US taxes. My mother was born in the US and moved to the UK with her mother when she was a teen and has lived in the UK ever since, with a small 2 year stay in Bermuda. I was born here in the UK and was with her in Bermuda for those 2 years also. So, I have US Citizenship due to my mother being born in the US. My father was born in the UK. So my first look did show that we BOTH have to pay US taxes.. WHAT? HOW? Cant be true but according to the IRS we should both be! What the actual hell? Can someone explain to me if this is actually correct as that cant be right in the slightest. How can the US Gov expect my mum, let alone ME to pay THEM?! I did read that there is a certain amount that can be earned before having to pay any tax when living abroad but still, I'll say it again. What the frick? I am sure this info is wrong in someway as neither my mother or I have had anyone come after us for not paying US taxes. *Sips Tea - Bloody Hell*
It's right, somehow they maintain you have to pay taxes, it's why boris johnson gave up his citizenship. The chances of them coming after you are nil though, IRS won't even know where you live. https://www.irs.gov/individuals/international-taxpayers/taxpayers-living-abroad https://www.myexpattaxes.com/expat-...a-us-citizen-living-abroad-have-to-pay-taxes/ That being said it's absolutely stupid and pretty nonsensical, and why does some random connected to you two care if you file them or not? Sounds like they're a step away from reporting you out of pettiness
Give up your citizenship. Problem solved. That country has insane tax laws that require you to hire two floors of accountants to figure out how to not pay any tax. It was designed that way. The only people who do not pay tax are the ones who earn the most, not because they are 'dodging' tax, just purely that they can afford a 'fiddle' of accountants, which I believe is the correct pronoun for it. I would never open an office there.
110,000$ and below you don't have to pay taxes if you are not living in the US if I remember correctly.
"This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice."
A disclaimer, wow? Never seen one of those before. Obviously you haven't watched the man's videos. He's knows his stuff.
Taxes...hated that class with a passion. Once the class was over, never looked back. The code is setup so that the more one earns the more loop holes/ tax postponement opportunities open up. All they are doing is pushing the bill down the field. The bill will still come due; just a matter of when. I work in one state and live in another. I have my employer paying the state taxes were I live. Those state taxes are higher. Still have to fill out tax papers for the state I work in. It is just a paper that shows I owe zero because the other state taxes are higher. The States settle up with each other behind the scenes.
Thats so funny... The US wants me and my mother to "declare" our income every year but we wont have to pay anything unless we earn over $108K...