W-8BEN and W-8BEN-E do not apply to me and my account stopped payouts

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alim
Posts: 125
Joined: Fri Apr 06, 2018 3:08 pm

Re: W-8BEN and W-8BEN-E do not apply to me and my account stopped payouts

Post by alim » Tue May 15, 2018 11:21 am

I think the issue is quite common. There are quite a few USA citizens living abroad who have not yet renounced their citizenship. USA law is that you pay tax on your world wide income regardless of where you live, and have bandings to deal with costs to maintain your household.

Arguing for dual nationality used to be fairly straightforward, as one argument is that you would hope your adopted country would be on the same side in any war, as I did. When you do renounce US Citizenship, the ONE glaringly obvious argument to NOT use is to pay less tax.

What I can say is that when you renounce, your tax position and accounting becomes much simpler...
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