augment
kiwifarms.net
- Joined
- Feb 4, 2020
Then Callie is being deceived or she is being dork as always and pay double taxes.
I think you're unaware of the hebrewness of federal taxation
However,
And alsoThe FEIE allows Americans living abroad to exclude up to around $100,000 (the figure rises slightly each year) of foreign earned income from U.S. tax. To claim the FEIE, you should file Form 2555 along with your federal return.
First, however, you have to demonstrate that you’re living abroad, using either the Physical Presence Test (which requires you to prove that you’re physically present in one or more foreign countries for at least 330 days in a 365-day period that overlaps with the tax year) or the Bona Fide Residence Test (which requires that you prove that you’re a resident in another country).
The Foreign Account Tax Compliance Act (FATCA) compels foreign financial institutions to report U.S. account holder details as well as American tax payers living abroad with more than $200,000 of foreign assets, not including a home owned in the taxpayer’s own name, to declare their financial assets on Form 8938, which should be filed with their annual return.
The Foreign Bank Account Report (FBAR) meanwhile, requires that U.S. tax payers who have more than $10,000 in aggregate in foreign financial accounts (including checking, savings, pensions, and mutual accounts) declare them using FinCEN Form 114
I understand the logic behind it, the gu'mmint doesn't want a brain drain. Unfortunately they are also bankrolling pajeets and west taiwaners en masse to come over and get a big dick degree at an Ivy League school, so I think this shit oughta be revised.