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Americans living abroad - Tax issue

Friendly note to all American expats living abroad:

The United States is one of only 2 countries that currently tax its citizens on worldwide income, however, it is the only developed country that taxes its citizens solely on basis of citizenship, regardless of where the person is residing. For the citizens that are living abroad, it brings a great compliance burden and increases the risk of double taxation. As long as one holds a U.S. citizenship, there might still be a filing obligation, regardless of permanently living abroad, having no U.S. source income or no valid American passport. If you are a U.S. citizen, you are a subject to U.S. income tax and reporting your non-U.S. bank accounts (so called "FBAR"). And this also applies to Croatian / Dutch / etc. nationals who were born in the USA or who have American parents but have since only lived abroad.