US expats cry way too much about their IRS taxes

US expats cry way too much about their IRS taxes

****SARCASM ALERT**** Why all the crying? The IRS has made life for US expats around the world so easy. All the forms are online as the instructions. For free. And the instructions are super easy to read and never contain contradictions. And sure you may have to consult a tax treaty, the treaty protocol, and the savings clause (which will negate the treaty), but again, those are all online too! 100000% FREE - With FBAR and Form 8938 to report foreign assets - Form 3520 and Form 3520-A for foreign pensions - Form 5471 and Form 8865 for self-employment income if in a corp or partnership and - Form 8821 for foreign mutual funds and - Form 720 excise tax for foreign life insurance (don't forget about 7702-g computations!), All it takes is a 80+ hours of work or a few thousand dollars for middle class family living overseas to get to the point where they can properly use Form 1116 to exempt income or use the credit. Failure to file any of the forms above (aside from Form 720) result in a $10,000 penalty (or more in case of the FBAR), even if not intentional. Having no tax due is not a full defense. Because hey, the information is all online and free. So I am not sure why there is all the belly aching. Or perhaps more accurately this is a barbaric tax system that should be given the heave-ho. Parent & Parent LLP 60 EAST 42ND STREET SUITE 4600 New York, NY 10165 (212) 256-1335 https://youtu.be/Z5m93_lbyBU IRS Medic