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If you're a US citizen, it doesn't matter if you move anywhere in the world, the IRS will take part of your income regardless.

• Retric 11y ago
  You can renounce US citizenship, as long as you have paid all your taxes up to that point. The point is it's a proactive action. http://travel.state.gov/content/travel/en/legal-considerations/us-citizenship-laws-policies/renunciation-of-citizenship.html http://travel.state.gov/content/travel/en/legal-consideratio... Persons intending to renounce U.S. citizenship should be aware that, unless they already possess a foreign nationality, they may be rendered stateless and, thus, lack the protection of any government. There are also a lot of exceptions to that IRS rule, depending on the type of income. PS: As to renouncing Citizenship; Social Security is an example of long term obligation that transcends where your living in a single year. If your willing to give up Social Security by renouncing Citizenship then things get simple.
  • maehwasu 11y ago
    As someone who has looked heavily into this option, I can say that you are drastically understating the simplicity of this option. Getting a second passport takes significant time and investment in most cases.
    • Retric 11y ago
      Granted, but Complicated != Impossible. People really complain about paying taxes while living outside the country. IMO it's a really complex situation, but the tradeoffs are surprisingly reasonable if you consider it in the long term from both the individual and state level in light of various free rider problems.
• JBlue42 11y ago
  Isn't it only after a certain amount? $80-90k?