Re:Facebook Co-Founder Gives Up U.S. Citizenship
by syedkarim on Saturday May 12, 2012 @09:23AM
(#3963761)
Just wanted to provide a bit of additional information on the US foreign income tax exclusion: You only qualify if you are outside of the US for 330 days of 365. Otherwise you're responsible for your full tax load. http://www.irs.gov/newsroom/article/0,,id=108276,00.html
Americans are exempt from the double-tax up to $91,400. Since I imagine most expat workers are earning under this level, I don't imagine that taxation is what's keeping Americans at home. Personally, I've found it difficult to even be considered for work abroad, usually due to visa issues. Other countries seem to have reciprocal working holiday visas for young people, and I imagine that this allows people to develop the specialized skills that justify the visa sponsorship or permanent resident status necessary to continue working abroad.