I'm an American citizen living in Taiwan for roughly 8 years now. In that time I have been employed by my Taiwanese father-in-law in the family owned business and have filed only Taiwan taxes. I have not filed US taxes since I left the US.
My Taiwan based income is not very high due to the fact that all of my living expenses are covered and claimed by the family business. I don't particularly have any plans to move back to the US, but I have a feeling I'm digging myself into a deeper hole each year I don't file. As far as I know, I've been completely off the books since I left. None of my credit reports list any employment information beyond 8 years ago.
However, I cleared out my US based 401K last year, so I'm sure I'm back on the radar now. This is part of the reason I want to start filing again. I need to pay a percentage of the 401K I cleared out before the IRS comes after me.
On a side note, while attempting a routine international back transfer from my Taiwanese bank back to my US bank about a year ago and was handed some forms pertaining to the Foreign Accounts Tax Compliance Act (FATCA). I actually had to sign a release allowing my Taiwan based bank to share my account information with the IRS in order to complete my bank transfer. So if the 401K didn't raise any red flags, signing the FATCA release probably did.
Anybody know where to start cleaning up this mess of procrastination I've created?