|
PureBytes Links
Trading Reference Links
|
At 16:22 22/05/2000 -0500, you wrote:
>I thought if someone gave up their citizenship they didnt pay that anymore
>when living abroad? Anyone confirm or deny this?
"Normally" you no longer have to file and pay any US tax once you revoke
citizenship. Just be very careful with the departure tax laws ...because
the IRS can potentially make a claim on your assets and income for up to 10
years after you revoke citizenship. Depends on what they think you are
worth to them! If you're worth any amount of money you should check with a
specialist accountant (in that area) before actually revoking citizenship.
Otherwise the IRS might have a nasty surprise waiting for you.
Simon.
|