Spending & Earning
Americans Abroad Pin Hopes on Trump Promise to End Double Taxation
Groups representing US citizens who live in other countries say they have a chance to escape a major financial headache.
The Internal Revenue Service (IRS) headquarters in Washington, D.C., U.S.
Photographer: Al Drago/BloombergThis article is for subscribers only.
Even Americans living abroad will tell you, it’s difficult to escape the long arm of the Internal Revenue Service.
The US is almost unique in taxing based on citizenship and not residency. That means many Americans overseas end up paying tax twice: once in the country where they reside and receive their income, and back home to the IRS.