I am trying to avoid opening any foreign accounts but that's really destroying my ability to actually improve my financial situation.
Will I have any tax liability to the United States? No. I won't really earn anything that would give me a tax liability to the United States.
Is there any reason for me to be trying to avoid opening a foreign financial account?
Should I just deal with FATCA?
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Should I just deal with FATCA?
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Re: Should I just deal with FATCA?
If you have over some amount, maybe $10K in US dollars, in a foreign account, you have to report it--the highest dollar amount that it reached during the year. I think it's to something that's under the treasury department.Tsar wrote: ↑March 3rd, 2022, 3:52 pmI am trying to avoid opening any foreign accounts but that's really destroying my ability to actually improve my financial situation.
Will I have any tax liability to the United States? No. I won't really earn anything that would give me a tax liability to the United States.
Is there any reason for me to be trying to avoid opening a foreign financial account?
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