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You're free to renounce American citizenship to escape future tax obligations. Anyway it's not an issue for non-rich expats, you just have to file a tax return
by TillE 2y ago
You're free to renounce American citizenship to escape future tax obligations.
Anyway it's not an issue for non-rich expats, you just have to file a tax return which shows you owe $0.
- okwhateverdude 2y ago> You're free to renounce American citizenship to escape future tax obligations. The hilarious thing about this statement is that it costs a few thousand dollars to renounce (as in a fee, paid to the embassy) and they reserve the right to come get you up to ten years later in tax cases.
- codethief 2y agoAnd IIRC there is some law saying that if you renounce citizenship to avoid taxation, you might never be able to enter the US again. EDIT: https://en.m.wikipedia.org/wiki/Reed_Amendment_(immigration) https://en.m.wikipedia.org/wiki/Reed_Amendment_(immigration) (Thanks, ChatGPT!)
- 1over137 2y agoYou also have to be fully up-to-date with the IRS before you can renounce citizenship!
- ghusto 2y ago> You're free to renounce American citizenship to escape future tax obligations. In theory, yes. I knew someone having a heck of a hard time doing so though. Here's the process: https://en.wikipedia.org/wiki/Relinquishment_of_United_States_nationality https://en.wikipedia.org/wiki/Relinquishment_of_United_State... It's pretty expensive and difficult.
- floydnoel 2y ago> You're free to renounce American citizenship to escape future tax obligations. actually you are not free to do that. renouncing citizenship requires a reason other than "to escape tax obligations"