EP 16: What is English for "Accidental Americans”?
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According to migration policy data, the highest number of immigrants are trying to get to the U.S. For those wanting to become Americans, it's a stressful situation, and the process can last for years.
But then there is another group of people who live outside the U.S., some of whom have no idea they are Americans, especially because they don't have a U.S. passport. For the record, not having a passport does not determine citizenship.
This group somehow acquired U.S. citizenship because they were born to U.S. citizens outside the country (probably on deployment), were born to non-immigrants in the U.S., or were born to U.S. parents but left the U.S. at a very young age. They may not be aware of it, but they are "American." in all ways possible.
We call this group "Accidental Americans."
In today's "shortie" episode, we discuss the implications of being an accidental American and the tax and financial implications of being an American overseas and make suggestions on how to deal with them. Ignorance is no defense, and you can't really ignore it.
IRS wants you to pay U.S. taxes like other U.S. tax persons or officially quit (exit).
We also discuss probably the most famous accidental American - Boris Johnson - a former U.K. prime minister.
We enjoyed digging into the details of this one.
The speakers' views and opinions discussed in this episode should not be considered financial, tax, or legal advice. Consult your advisor for any legal, cross-border tax, and financial advice.
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