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re: Tax rules cause record number of Americans to renounce citizenship
Posted on 9/10/14 at 2:01 pm to The Spleen
Posted on 9/10/14 at 2:01 pm to The Spleen
quote:
Did you read the article? The issue is the complexity of their return, not the tax rate.
Did you read between the lines?
quote:
What is really driving Americans to expatriate is not that they do not want to pay taxes. What is driving them crazy is that now filling out tax returns is much more complicated-it requires tremendous work in terms of tax-record keeping and then it can cost thousands of dollars to get a competent person to fill it (the tax return) out
If you are paying thousands of dollars to fill out your taxes, you probably fit into a class of people that have very complicated international income and assets. With a government that continues to increase / manipulate the tax code and an IRS that has taken liberties with the interpretation of and enforcement of taxation laws, I can see their point.
1
Posted on 9/10/14 at 2:07 pm to ironsides
quote:
Did you read between the lines?
There's no lines to read between. I've worked in public accounting before and have filled out returns for citizens living abroad. They can be extremely complex and often times don't result in a higher tax burden than a comparable citizen's living stateside. I don't know how their required filing have changed in recent years as I no longer work in that capacity, but if they've gotten more difficult, I get their frustration.
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