For young Americans who turn a study-abroad experience into a move overseas, taxes can become an added challenge. Living abroad does not necessarily mean paying tax twice, but Americans may have to navigate filing requirements in both the U.S. and their country of residence. Erin Collins, who leads the Taxpayer Advocate Service, an independent organization within the IRS, said in her latest annual report to Congress that the challenges facing taxpayers living abroad are among the "most serious problems" confronting American taxpayers. "As U.S. citizens, taxpayers abroad remain subject to U.S. tax laws, even though they must also comply with the tax requirements of the country in which they live and work," Collins wrote to CNBC in an email.
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