Comment on What are some of the things someone permanently relocating away from the US should be aware of?
count_dongulus@lemmy.world 1 day agoIf you plan to return
Even if you never plan to return, you are still (legally) on the hook to file a 1040-NR form with the IRS every year.
There’s a foreign earned income tax credit: this reduces your US tax bill by any income tax you paid to your residence country. For many expat working stiffs, this means they don’t have to pay anything to Uncle Sam, but they still have to file a tax return.
There’s also an income exclusion under $125k/yr.
If you pan to keep and use your passport*
Even if you plan to renounce your citizenship, that’s a long (and often expensive) process and you have to keep filing and paying taxes until it’s done.
Venator@lemmy.nz 12 hours ago
Maybe also check your current countries extradition treaty 😅