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A comment on Facebook Co-Founder Gives Up U.S. Citizenship. Parent comment

Re:Facebook Co-Founder Gives Up U.S. Citizenship by steve-howard on Friday May 11, 2012 @01:48PM (#3960381)
It looks like you have to make over $150k/year to have to pay worldwide taxes:

http://www.irs.gov/businesses/small/international/article/0,...

It's not cool on principle, I suppose, but most people find it hard to sympathize with the problems you face when you make more than $150k/year.

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Re:Facebook Co-Founder Gives Up U.S. Citizenship by stevenwei on Friday May 11, 2012 @02:05PM (#3960471)
Just to clarify, your link refers to the income limits that qualify someone for the exit tax (i.e. the tax that you have to pay the IRS upon giving up your citizenship).

If you remain a U.S. citizen but choose to live abroad (i.e. pay taxes in another country), you also have to pay income tax to the IRS, but you can exclude the first $95,100 of your income from being taxed.

Source: www.irs.gov/businesses/small/international/article/0,,id=97130,00.html

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