4 ms·
For a perspective on why H1-B people might want to flee the United States because of execrable tax policy, you can check out this post and comments on my blog:
by philiphodgen 16y ago
For a perspective on why H1-B people might want to flee the United States because of execrable tax policy, you can check out this post and comments on my blog:
http://hodgen.com/hb-person-need-of-fbar-assistance/ http://hodgen.com/hb-person-need-of-fbar-assistance/
tl;dr - if you have more than $10K in a foreign bank account you have to file a tax form. If you don't file such a form, horrific penalties ensue. H1-B workers frequently have accounts in their home countries with more than $10K. They come here to work, become residents for US tax purposes, and are liable for the penalties.
I have talked to more than one such person who finds it expedient to quit their US job and leave in order to eliminate the US tax risk.
EDIT: In case the connection is not obvious, the same logic would apply to immigrant entrepreneurs. If you have some capital outside the USA and you get a green card, you can stay (and risk six-figure tax penalties) or you can give up the green card and eliminate your tax risk. I have a booming business in "give up green card" work at the moment.