Siloo Kapadia
13 Nov 2017
USA, Canada / Any Polish-USA Dual Citizens Returning to Poland and Plan to Renounce USA Citizenship Due to FATCA? [5]
You see, the problem is that with technology very soon USA government will know exactly what you have and where you have it. This is leading to a stampede of people giving up their USA citizenships and green cards if they live abroad. It is not like any other country where you do nothing, or like it was before FATCA, where all you had to do was file taxes. And the $110k income exemption is for earned income, not for investment income, rental income, etc. So one can say theyhave their hands out for every penney they can get.
You see, the problem is that with technology very soon USA government will know exactly what you have and where you have it. This is leading to a stampede of people giving up their USA citizenships and green cards if they live abroad. It is not like any other country where you do nothing, or like it was before FATCA, where all you had to do was file taxes. And the $110k income exemption is for earned income, not for investment income, rental income, etc. So one can say theyhave their hands out for every penney they can get.