Are me and mum/mom in trouble?

I keep my finances clean and compliant. Takes less than 2 hours each year (I’d even bet less than an hour) for my returns.

You work in finance and have a healthy understanding of filing US taxes. Using how easy it is for you to be compliant may not apply to others. It certainly hasn't been that easy for me and I don't have children or a complicated tax situation.

Sent from my Pixel 6a using Tapatalk

If you do want to renounce your US citizenship, you could renounce without doing the streamlined tax catchup process if you have less than $600,000 (not sure exact amount) of assests.   you would be a "covered expatriate" and subject to exit tax  but under that limit you would owe no exit tax.

By accepting the "covered expatriate" label (even if your assets are not over the exemption amount), if you have any USC heirs they may be subject to a special tax (not a regular inheritance/estate tax paid by the estate) on an inheritance from a covered expat.

You work in finance and have a healthy understanding of filing US taxes. Using how easy it is for you to be compliant may not apply to others. It certainly hasn't been that easy for me and I don't have children or a complicated tax situation.

Sent from my Pixel 6a using Tapatalk

Fair!

But I do just use the prior year as a guide. But yes, I’m definitely comfortable with numbers!

But yes, I’m definitely comfortable with numbers!

Just one of your many superpowers!