The US is the ONLY country on the planet th

The US is the ONLY country on the planet that taxes offshore income of their citizens overseas.  If you have offshore holdings (bank accounts, houses, businesses, corporations, foundations, trusts, etc.) in a foreign country, you must comply with FACTA and report the income from those holdings.  And, of course, if they require you report, and they tax, offshore income then it follows that they certainly require that you report, and pay tax on, any US income no matter where on the planet you receive, spend or invest that money.  ALL income must be reported and most especially those covered by FACTA.

 

So yes... if you move anywhere outside the US (yes, even Mexico or Panama) you will have to file, report and pay the IRS.   It's just one of the many benefits of being an American citizen.... aren't you feeling FREE?

 

(Cuenca, Equador, pictured. )