On Tuesday, July 9, 2002, at 06:30 PM, Anonymous wrote: > On 9 Jul 2002 at 14:02, Tim May wrote: >> Unless one's stay is a short one (see below), income or other >> money earned while in the U.S. (and maybe earned outside the >> U.S. if the IRS can make a nexus case) is taxable. > > The question really is: Suppose one becomes a US citizen, and > then resides outside the US. Then is money on earned on assets > outside the US taxable by US authorities.
Yes, but under expat tax rates. Cf. the IRS site, tax regs, etc. for details. Something like the first $70K per year of income is not subject to taxes. Companies routinely protect their overseas employees by tax-protecting their offshore earnings. (And the tax protection is protected, so the companies protect _that_, etc. Fortunately, simple formulas for infinite sequence limits are available.) As this is not a tax forum, and I'm not going to do research for others, consult the Web. Google is your friend. --Tim May "As my father told me long ago, the objective is not to convince someone with your arguments but to provide the arguments with which he later convinces himself." -- David Friedman
