Re:Why expat Americans are giving up their passports
by spiralpolitik on Wednesday February 10, 2016 @03:02PM
(#11075548)
The simple solution would be to synchronize FBAR and FACTA to use the same reporting amount as this would remove the vast majority of people from having to report. $10K is far to low given exchange rates. $50K-$100K or higher would probably be a more realistic number.
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Re:Why expat Americans are giving up their passports
by anothermouse on Wednesday February 10, 2016 @04:26PM
(#11076135)
My other comment (in reply to another comment) shows how I, a brit, have gotten myself into a problem with far more that 100K, without having any idea.
The best option would be same country exemption for FBAR and FACTA. Or stop taxing non-resident citizens.