Are you a US expat living abroad? If so, do you have a handle on the tax implications of being an expatriate? In other words, do you have to pay taxes when living outside of the USA borders? Or, at best, do you need to submit an annual tax return to the IRS, indicating gross income earned for the tax year, irrespective of where in the world you live and work?

It seems to be common knowledge, or perhaps an urban legend, that all US passport or Green Card holders have to pay taxes in the country of their residence and the United States?…