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U.S. tax rules could penalize Americans here (http://www.windsorstar.com/news/rules+could+penalize+Americans+here/5282418/story.html#ixzz1VuDJf6Rt - broken link)
U.S. tax rules could penalize Americans here (http://www.windsorstar.com/news/rules+could+penalize+Americans+here/5282418/story.html#ixzz1VuDJf6Rt - broken link)
They are not being penalized. As US citizens they are required to file tax returns and FBAR reports. If they are in compliance they have nothing to worry about.
Luckily I knew about this before moving abroad; I filed a tax return every year that I lived in Europe. It was pointless as I never owed anything, took about 10 minutes, and wasn't that big of a deal.
Sadly too many Americans living outside the U.S. are totally unaware of this requirement and since most don't make any contact with U.S. consulates/embassies abroad either, there's no way to notify them.
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