Tax Protester FAQ

Re:Tax Protester FAQ by fl0wenol on Wednesday November 04, 2020 @07:44PM (#24994618)

One reason for that global reporting req is to account for capital gains in domestic trading accounts, or other transfers of property. This is not unique to the US, but other countries don't necessarily piggy-back this in your standard income tax filing.

There are provisions to prevent double-taxing beyond the foreign income threshold because of treaties between the US and other countries. I'd speak to a professional at least the first time you file internationally.

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Re:Tax Protester FAQ by worik on Thursday November 05, 2020 @01:16AM (#24996053)

What is unique to the USA is: charging citizens tax on money they earn when they live overseas and forcing overseas banks to hand over details, in some cases of non USA citizens, to USA IRS

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Re:Tax Protester FAQ by kingosticks on Thursday November 05, 2020 @08:21AM (#24997978)

To be a bit more specific, it's charging citizens tax on money they earn from overseas when they live overseas i.e. nothing to do with the US at all. Your comment could be interpreted to mean just taxing income from US investments while living abroad, for example (which would be more reasonable, but still over-reaching). Taxing worldwide income is also done by a few other countries but only the IRS has the bizarre extra reach into overseas banking data (that I know of, at least).

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