“As more and more giant American corporations try to dodge U.S. taxes by moving overseas, Sen. Bernie Sanders on Friday announced legislation to ban those businesses from receiving lucrative U.S. government contracts.”
Since corporations are people, shouldn’t they be taxed like people? And if they move abroad, shouldn’t they pay income taxes just like American expats?
If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.