this post was submitted on 19 Jun 2025
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50501

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A spicy troll that any country could do. (lemmy.world)
submitted 1 month ago by bacon_pdp@lemmy.world to c/50501@piefed.social
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US federal tax code allows one to deduct any foreign taxes paid.

So, any country in the world could offer US citizens the option to claim their income as taxable in that country’s jurisdictions and provide them paperwork needed by US tax authorities.

Thus instead of funding the Trump government, the money would go to governments who have policies that you support (say Ukraine for example) and you would still be completely complying with US tax laws but also significantly reducing the amount of money that you give to the federal government.

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[–] owenfromcanada@lemmy.ca 7 points 1 month ago (1 children)

It would only work if the other country claimed you had paid your entire earnings in foreign taxes, without actually charging you. Which would be flagged and figured out pretty quick by the IRS.

[–] bacon_pdp@lemmy.world 2 points 1 month ago

Plus Congress could pretty quickly pass a law closing any loopholes found but the announcement doesn’t have to result in that country actually doing anything beyond announcing that they are looking into it.