Hacker News new | ask | show | jobs
by 001Diana 1711 days ago
It would have sounded ridiculous to me too had I not lived it. It’s the tax compliance, not the paying of taxes that is the issue. Most of us will never pay, we already pay more in the country we live in. The tax compliance enforcement costs the US far more than it makes in collecting taxes from citizens overseas, and other countries refuse to allow dual citizens to open accounts or invest. There are MASSIVE, and I’m talking tens of thousands of dollars in fines that can be assessed if you are overseas a file a form too late. And it’s difficult for a specialist accountant to work it all out, let alone a regular person. It’s the anxiety of not knowing what is coming next. If there were a fee for living overseas and having the option of using consular assistance, sure I’d be happy to pay it.