I'm pretty sure I remember reading an article about what happens when you renounce your US citizenship, something along the lines of you being taxed for any ass

I'm pretty sure I remember reading an article about what happens when you renounce your US citizenship, something along the lines of you being taxed for any assets you have (in the US) as if you had sold all of it on the day you give up your citizeship, please someone correct me if I am wrong, I will try find a source. "To recap, if upon giving up US citizenship you own assets with unrealized gains of less than $626,000, you will not owe exit tax, no matter how wealthy you are. If you are required to pay tax it's less tax than you would have paid if you'd stayed in the U.S. and sold the assets. Plus, if any asset you pay exit tax on continues to rise in value post-renunication, all those additional gains are yours." [1] heres a source (number 2) [1]: http://www.expatinfodesk.com/expat-guide/relinquishing-citizenship/renunciating-your-us-passport/misconceptions-about-renunciation-of-a-us-passport/ http://www.expatinfodesk.com/expat-guide/relinquishing-citiz...