Comment on "US Person": is a red flag for financial institutions in Europe

• thespcicifcocean@lemmy.world ⁨1⁩ ⁨day⁩ ago

  i don’t have a second citizenship to fall back on, so i’d be stateless. also, i can’t afford to since you have to pay all the taxes on potential income for the next 10 years or something

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  • teft@piefed.social ⁨1⁩ ⁨day⁩ ago

    Only people who make more than 200k/year or have more than 2 million in unrealized taxable assets have to pay an expatriation tax.

    There is no paying future taxes as that’d be asinine.

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    • thespcicifcocean@lemmy.world ⁨1⁩ ⁨day⁩ ago

      TIL, i thought i read that 10 year tax thing somewhere. probably just bs i saw online and didn’t look into it

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      • njm1314@lemmy.world ⁨1⁩ ⁨day⁩ ago

        I would absolutely talk to an embassy or at least an international tax professional before making decisions and not rely on Lemmy.

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    • diablomnky666@lemmy.wtf ⁨12⁩ ⁨hours⁩ ago

      You only have to pay taxes for 10 years after expatriation if you set foot on US soil for more than 30 days during that period.

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