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by 70rd
1247 days ago
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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... |
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