September 2017 JD Supra

According to the US Department of State, there are approximately nine (9) Million US passport holders living overseas.  There continues to be a misimpression by certain US Taxpayers living overseas that they are not required to file US income tax returns because they have taken residency in another country.  Others believe that since they are paying taxes in their new country of residency, they are exempt from paying US taxes.  These misunderstandings by US Taxpayers living abroad can become very costly and now involve the US Passport.