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My bet: this is primarily targeted at tax delinquent expats, some of whom may not even be aware that the US insists on collecting taxes on their earnings. Of
by zzalpha 11y ago
My bet: this is primarily targeted at tax delinquent expats, some of whom may not even be aware that the US insists on collecting taxes on their earnings.
Of course, many of the affected are dual citizens, which explains why so many are renouncing their US citizenship (http://www.forbes.com/sites/robertwood/2015/05/08/new-un-american-record-renouncing-u-s-citizenship/ http://www.forbes.com/sites/robertwood/2015/05/08/new-un-ame...).
- philiphodgen 11y agoThe target may or may not be tax delinquent expats. It will be used on other targets, however. It's a great way of limiting your freedom of movement, citizen. It puts a whole new meaning on "You're not finished until the gorilla says you're finished." Disclaimer: I am an international tax lawyer who does a LOT of expatriation projects.