When Greg Swanson decided to move to Europe to get some real experience to go with his education in international business, he told himself he would likely stay for just two years.
nevertheless Swanson, who worked for Kodak at the time, found he was travelling frequently, learning a lot as well as also also enjoying the idea, so he stayed longer.
Then he met his wife, a native of France. Eventually, they had two kids.
Swanson, 53, of Switzerland, has at in which point lived overseas for 30 years.
as well as also also as his life has changed, so contain the tax rules he faces. Admittedly, living abroad as an American has always made for a complicated tax situation.
in which will be because the United States will be one of the only countries to tax based on citizenship, not residency.
as well as also also the U.S. government has tightened its rules in recent years to make the idea more difficult for Americans to evade taxes by hiding money offshore.
For Americans who reside in foreign countries, in which can make the idea more difficult to find financial institutions who will let them open accounts.
Swanson experienced those restrictions first hand when he was denied a bank account.
“the idea wasn’t anything personal or even discriminatory as far as nationality,” Swanson said. “the idea was our own government in which set up penalties for them to deal with us.”
Americans overseas often face a complex filing regimen.
Swanson received another shock when he found out he was behind on tax filing requirements he did not know about.