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Tuesday, March 2, 2010

The Two Universal Truths

1. You will die.
2. The IRS are bastards.

Thought that you got out of having to file US income taxes because you moved moved abroad???  Or think that just because you're a dual citizen, you don't have to pay taxes seeing how you're a Brit, employed as a Brit and working for a British company????

Think again.  The MAN still has you in it's grips.  The good news is that you can exclude up to $91,400 of your income and all Americans abroad get an automatic extension until 15 June to file.  However be forewarned that if you wait until 15 June and just happen to owe Uncle Sam some money, you will be charged interest starting from 15 April.  So much for an extension. 


In addition to filing taxes, you are obligated to inform the IRS if you have a foreign bank account with more than $10,000.  And yes, you must report this even if the foreign bank account happens to be in the country with which you hold dual citizenship.  Man, I can't get a break!

Want to vent your anger on the MAN or just get more information? IRS=bastards

Need tax preparation assistance?  The U.S. Embassy has a few suggestions.

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