⌛ Question for US Citizens or Dual Citizens Living in the Phils

Correction to the IRS link:

Publication 54 (2008), Tax Guide for U.S. Citizens and Resident Aliens Abroad

 

Well, that "generally" pretty much excludes me. As I am not allowed to own a business in the Phlkippines, and don't, I don't have any income. I also have no bank accounts, earn no interest or dividends from stocks, bonds, or the like, own no property, etc.

According to my sister, who owns Albright tax service in Billings Montana, an established business of 30+ years, I have no need to file.

I tend to believe her.

Larry

 

:D Heck yeah. If you have no money and no income that pretty much eliminates the need.
That shows about what it takes.
The rule that truly chaps my hide is the ridiculous reporting of bank accounts to the Treasury. It has nothing to do with taxes, they just want to know what you're doing with your money. $%#!!
Is it any wonder people try to hide their money?

 

Whats the point?

And I do not believe they have the resources to go after you anyway.

 

If you don't meet the minimum income requirements obviously there's no need to file. You may need to arrange things to avoid hitting the requirement level which is entirely possible. (Contact J. Cheever Loophole, Attorney at Law)
What if you do meet the requirement and choose not to file? Maybe nothing happens unless you try to travel under a US passport or step on US soil. Maybe you are collecting SS and they withhold your payments until you have a "conversation" with them.
Maybe you decide to revoke your US citizenship.