Apparently banks throughout the world are being pressured, under the Foreign Account Tax Compliance Act, to report the accounts of U.S. citizens to the IRS, and in certain cases, withhold monies from them. I am curious as to how this will apply to Taiwan’s post office, which provides low-level banking services. Does anybody know?
That’s a great question that I would love to have an answer to also.
In the meantime there is a petition just created here: https://petitions.whitehouse.gov/petition/change-us-tax-law-citizenship-based-law-residence-based-law/b6v4xfpV to try to get the goverment to tax via residence based rather than citizen based. Please spread this as they have to get 25,000 signatures to even hope for a response from the government.