View previous topic :: View next topic |
Author |
Message |
simon_porter00
Joined: 09 Nov 2005 Posts: 505 Location: Warsaw, Poland
|
Posted: Fri Sep 27, 2013 8:19 am Post subject: FATCA - Any Americans renouncing their citizenship? |
|
|
http://www.bbc.co.uk/news/magazine-24135021
Anyone going to be affected by this? OK, you'll need 156,000 zl in your account (although I have no idea if fixed assets - houses, cars etc - will be included in this) but in theory I can see it affecting or at least causing some people to think. |
|
Back to top |
|
|
Master Shake
Joined: 03 Nov 2006 Posts: 1202 Location: Colorado, USA
|
Posted: Fri Sep 27, 2013 9:11 am Post subject: |
|
|
The 156,000zl is annual income. If you're under this amount, you pay no tax to the US gvmt.
I think we can all agree that 156,000zl is out of the question for most teachers working in Poland so no need to surrender that US passport.
I've filed US income taxes since I've lived abroad. The tax forms are complicated, but once you've done it once it's pretty much the same every year. It takes me 1-2 hours to file a return now. It's fast because I don't bother claiming deductions like housing, food etc. because I know I will always be well under the 156,000zl limit.
You can fill out US income taxes online at: https://www.freefilefillableforms.com/fff/html/FreeFileForms.htm |
|
Back to top |
|
|
ecocks
Joined: 06 Nov 2007 Posts: 899 Location: Gdansk, Poland
|
Posted: Fri Sep 27, 2013 9:36 am Post subject: |
|
|
Things will have to get a bit worse before the numbers reach a point of eyebrow-raising concern but America is well on it's way to mediocrity so it's possible.
I have never actually met an American who has done this and it's clear emigration from the US is basically non-existent, so far. |
|
Back to top |
|
|
dynow
Joined: 07 Nov 2006 Posts: 1080
|
|
Back to top |
|
|
Master Shake
Joined: 03 Nov 2006 Posts: 1202 Location: Colorado, USA
|
Posted: Sun Sep 29, 2013 9:20 am Post subject: |
|
|
Shucks, I'd better cut back on my teaching hours this semester. |
|
Back to top |
|
|
Infinite
Joined: 05 Jan 2013 Posts: 235
|
Posted: Wed Oct 02, 2013 11:41 am Post subject: |
|
|
If you're a business owner, 300,000PLN is not that much really. I think more people are definitely thinking about the switch. As per not knowing many US citizens who made the jump... I'm sure we'll be seeing this trend soon enough. I wonder how this would affect people who hold multiple passports. Sad to see the once free country turn into a complete police state and trying to intervene in every part of its citizen's lives under the guise of security and tax avoidance. Stalin is truly laughing in his grave, there's never, in the entire history of this planet, been a more surveyed nation than the US. What really gets me is how they eagerly sell this technology to other nations world wide... ugh...
From a perspective of an EFL teacher, there's not much to worry about unless you're one of the few who landed those really sweet lucrative gov't and military contracts, but from a perspective of a school owner, this could be a game changer for many US citizens who found their new home abroad. |
|
Back to top |
|
|
PeterParvo
Joined: 18 Dec 2011 Posts: 103
|
Posted: Wed Oct 02, 2013 12:02 pm Post subject: |
|
|
Infinite wrote: |
Sad to see the once free country turn into a complete police state and trying to intervene in every part of its citizen's lives under the guise of security and tax avoidance. |
Am I missing something? Am I not reading the right newspapers? After being abroad for 13 years and now back in the U.S., I can't for the life of me understand this quote. |
|
Back to top |
|
|
ecocks
Joined: 06 Nov 2007 Posts: 899 Location: Gdansk, Poland
|
Posted: Wed Oct 02, 2013 12:56 pm Post subject: |
|
|
PeterParvo wrote: |
Infinite wrote: |
Sad to see the once free country turn into a complete police state and trying to intervene in every part of its citizen's lives under the guise of security and tax avoidance. |
Am I missing something? Am I not reading the right newspapers? After being abroad for 13 years and now back in the U.S., I can't for the life of me understand this quote. |
Funny, I recognized the aptness of his description instantly.
But, that's the core of the problem. The country is polarized into opposing camps. |
|
Back to top |
|
|
PeterParvo
Joined: 18 Dec 2011 Posts: 103
|
Posted: Wed Oct 02, 2013 1:49 pm Post subject: |
|
|
Yes I do sense that feeling among some people that the government is too intrusive and money-sucking in the U.S., but to say that we live in a police state is absurd. Go live in the Middle East for a while and you'll see police states.
On the issue of governments taking too much money from their citizens, don't Poland and Europe rather highly tax their citizens? I saw a high percentage of my money going to the Polish government while working there. Now in the U.S., I find my taxes rather reasonable. |
|
Back to top |
|
|
|