I'm an American citizen and moved from USA to Australia when I was 19. 6 years later, I'm currently employed full time in Australia and have no assets in US. But I'm told I have to complete old US tax returns in US and continue to do US taxes my whole life?

I don't live or work in the US, but as I hold a passport, I'm told I must continue to lodge tax returns to IRS. I don't believe I have done this for years - maybe since 2012.

What's the most cost effective way to complete old tax returns and continue completing new ones throughout my life, even though I live in Australia?

Alternatively, would it be beneficial to simply renounce my US citizenship?

In the US I had a few odd jobs here and there throughout high school. I also went back during college breaks to work a bit. So basically I'm on the grid.

Submitted February 15, 2017 at 06:36AM by SneakersRetreat http://ift.tt/2lPZYdc