Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States

Boris Johnson, the mop-topped Lord Mayor of London and a man still occasionally touted as a possible future leader of Britain's Conservative Party, was born in New York but hasn't lived there since he was five. Due to his place of birth he is a US citizen, holds dual citizenship and carries both passports.

Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States 1418292361251

Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States 1418292361251

It still must have come as a surprise to him when the US Internal Revenue Service handed him a tax bill for the sale of his London home in 2009. Profits on the sale of a principal residence in the UK are tax free as they are in Australia, but not in the US. And although Boris has never lived in the US, the estimated tax is more than £100,000. He is very vocal in his refusal to pay. This case could have tax implications for Australians living abroad as much as Americans.

Uniquely among the countries of the world, the US taxes its citizens not on the basis of where they live, but on their citizenship. For a US citizen residing abroad it does allow a tax-free threshold of roughly $US100,000 which means most US expatriates pay little or no tax to the US government, apart from the fees their accountants charge to file the returns. Foreign residents are advised to use a professional since the US regulations are extremely complex and mistakes are subject to hefty penalties.

http://www.smh.com.au/comment/watch-out-the-us-taxman-may-be-after-you-20141211-124rs2.html
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Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States PgkowJT

Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States PgkowJT

Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States

Beware the thieving US tax collector if you are living in OZschwitz but were born in the United States

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