Here's one reason why Americans abroad want to surrender their citizenship
Married taxpayers residing in a foreign country and filing jointly must submit the form if their foreign assets are valued at more than $400,000 on the last day of the tax year or if they exceed $600,000 at any time during the year.In that case, singles must report their foreign assets to the IRS if the value of those holdings exceeds $50,000 on the last day of the tax year or if they go over $75,000 during any time during that year .
to taxpayers who weren't aware of their obligations. This way, accountholders get themselves up to date with filing amended or delinquent returns and resolve their tax obligations.Nevertheless, more than 4 out of 10 expats polled by Greenback Expat Tax Services said they didn't know about the streamlined filing procedures.
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