Author Topic: People giving up their U.S. citizenship.  (Read 893 times)

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Offline JohnnyReb

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People giving up their U.S. citizenship.
« on: March 11, 2014, 08:39:25 PM »
Nope! Not the DUmmies. More like solid citizen types and for a reason we all can understand.....the IRS. They live abroad and still have to file a return. Some of the charges to get their taxes done abroad are outrageous. Might be a chance for someone in the US to open a business doing taxes for these citizens.

http://finance.yahoo.com/news/expats-ditching-u-s--passports-151127757.html

How 'bout we pass a law they don't have to file a tax return if they take/sponsor a DUmmies move and citizenship renouncement.
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Offline md11hydmec

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Re: People giving up their U.S. citizenship.
« Reply #1 on: March 14, 2014, 12:19:31 AM »
The problem with that is, sometimes the government you're going to is more outrageous than the US.  Singapore for instance (because I work here) and the US treat me as an Expat for tax purposes even though I go back and forth to the US every 20 days.  They also tax anything, and I mean anything, they think is a benefit to me from my employer.  Hotel, car, per diem, 401K match,  stock options that I recieved while working here, they get their money.  Now my company promises that I will be tax neutral when they file for me, its just a lot of paperwork.  We have a company that files for us.  I can't imagine it being any easier for someone giving up their citizenship and immagrating to another country.  Then they have to show that they have a job and won't be a drain on the government while giving up half of their income for taxes.
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