Tag Archives: U.S. tax compliance

Message to financial planners: The rules are NOT the same for U.S. citizens living abroad

I have previously posted on the problem of investments that are effectively prohibited to U.S. citizens living outside the U.S.

The following comment which recently appeared at the Isaac Brock Society is (IMHO) deserving of a separate post. Amazing how helpful the Atossa article has been. Seems that all “Peter Dunns” are very helpful too.

Updated. You can follow the responses to this comment:

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New HR Block blog offers tax tips for U.S. citizens abroad – As goes “Form Nation” so grows HR Block!

Life in “Form Nation” (or is it a “waste of a life”) …

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PAYING tax always hurts. But America’s tax code seems designed to make it hurt as much as possible. It contains 3.8m words, and was changed 579 times in 2010 alone. Taxpayers must wade through a swamp of gobbledygook: tax compliance consumes 6.1 billion man-hours annually, according to the Internal Revenue Service (IRS). That’s the equivalent of 3m people working full-time, year-round—more than the entire federal workforce. Each year, Joe Taxpayer must sign a thick return that he cannot plausibly understand. And woe betide him if any of its contents should turn out to be inaccurate.

The Economist – March 24, 2012 Continue reading