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> 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 dolla
by 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!)