Impact of FATCA on Accidental Americans

Around the world, “accidental Americans” living abroad are facing unexpected U.S. tax bills. Accidental Americans are people living abroad without any real ties to the United States, but who still have U.S. citizenship. America follows a citizenship-based taxation system, meaning U.S. citizens are subject to U.S. taxes on worldwide income, no matter where they live. This is resulting in many accidental Americans owing U.S. taxes on income earned in the countries where they live, often without even knowing they were American citizens.

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