A comedian once said that death is painful, but it only happens once.
Taxes, however, seem to get more painful every time politicians get together. It’s also an annual ritual of mental anguish for many Americans. Who doesn’t dread the annual encroaching of April 15th?
Depending on your tax bracket, the average annual tax burden for most Americans is between 10% to 14% of income. Some corporations can get away without paying taxes under recent changes in the law, but you can’t.
As an American citizen, even if you live abroad, not paying taxes can bring you a lot of long-lasting legal grief. Here’s what can happen.