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Doesn't matter if you move - you still have to pay the taxes no matter where you live.>
>You missed the entire point of the link. Let me see if I can explain it to you. When Maryland implemented its millionaire tax, hoping to increase revenue, it actually lost money because the millionaires moved to other states that did not have a millionaire's tax. The millionaires did not have to move out of the country.
>Do you get it now?
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I would like to try living outside the USA for a year or two sometime - but the prospect of having to pay taxes twice has kept me from really trying to pull it off.>
>Has the USA passed new tax laws since 2001? I lived and worked in England for 2 years from 1999 to 2001. At that time, the UK had a tax treaty with the US. This meant that if I was paying taxes on income earned in the UK while living in the UK, I did
not have to pay taxes again to the US on that income. Doing my US taxes while I was resident in the UK was a real PITA - I had to fill out all of these extra forms proving that I was resident in the UK for tax purposes by passing what they called the physical presence test (which meant that I was living in the UK for at least 330 days that year).
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>A brief GOOGLE search seems to indicate that this is still the case:
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https://www.irs.gov/Individuals/International-Taxpayers/Foreign-Earned-Income-Exclusion---Physical-Presence-TestLook like there is a surge in people giving up their US citizenship because of taxation issues and the fact European bank won't touch US citizens due to the hazard of being prosecuted in the US. Where ,as we saw with BP, courts really like to hammer foreign companies.
http://www.bbc.co.uk/news/35383435
