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Exactly my sentiments. However, since it says "in some cases", maybe this refers to paying the regular taxes due before relinquishing.
by geoka9 17y ago
Exactly my sentiments. However, since it says "in some cases", maybe this refers to paying the regular taxes due before relinquishing.
- jaaron 17y agoNo, the exit tax can be pretty bad: "The so-called ‘mark-to-market' tax will apply to the net unrealized gain on the expatriate's worldwide assets as if such property were sold (the ‘deemed sale') for its fair market value on the day before the expatriation date."[1] [1] http://www.withersworldwide.com/news-publications/324/exit-tax-u-s-expatriates-to-become-law.aspx http://www.withersworldwide.com/news-publications/324/exit-t...