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| Re: More Americans renouncing citizenship because of greedy government (1236588) | |||
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Re: More Americans renouncing citizenship because of greedy government |
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Posted by subfan on Sun Oct 26 13:20:02 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by AlM on Sun Oct 26 13:08:27 2014. In theory, the US gives a dollar-for-dollar credit for tax paid abroad; however, in practice, there are often mismatches that result in double tax. These can be things like when Tax is due in one country vs. the other, different Tax year ends, etc. I agree the system is not designed to cause double tax, but I can assure you that it often does anyway.As to social/self-employment tax - I suppose if one gives a lifetime of contributions to bother the US and the other country, they would collect from both. That being said, I'd tend to think most people would not want to do so - would you be willing to pay double social security (FICA) taxes for your career if it would get you double benefits on retirement? subfan |
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