Latest Breaking News
In reply to the discussion: More are renouncing U.S. citizenship as IRS cracks down [View all]BlueMTexpat
(15,700 posts)Even if you make so much that you have income above the already generous exclusion and expenses that can be applied against it, if you pay taxes on that in your country of residence, you can also deduct those taxes from any outstanding US liability.
Believe me, it's not all that onerous. See my post above b/c I am also an expat. Although as a retiree I will never earn enough - and even so, I am still working part-time b/c my pension, SSI (yes, I get that too!) and other income are mere pittances compared to the COL here - to earn income above the exclusion - if I by some miracle ever will, that actual amount in taxes I must pay will not be duplicative.
US tax liability already is one of the lowest in the world.
One thing that you should know though if you are seriously consider renouncing your US citizenship. I understand that there is some risk that you may indeed not be allowed to travel within the US. Check it out.