Search results
Results from the WOW.Com Content Network
Tired of what they view as greedy U.S. tax collectors and a meddlesome bureaucracy, they take the most drastic of steps—tearing up their passport and renouncing their U.S. citizenship altogether.
The State Department estimated in 2007 that annually, 2,298 people file Form DS-4079 to relinquish their United States citizenship. [29] Finally, the IRS estimated in 2012 that Notices 97-19 and 98-34, which "provide guidance regarding the federal tax consequences for certain individuals who lose U.S. citizenship" or "cease to be taxed as U.S ...
Eventually, his belief in liberation theology would lead him to naturalize as a Honduran citizen in September 1974 and then renounce U.S. citizenship as a gesture of support for landless peasants and a measure of protest against the United States' influence in the country. Despite his naturalization, he was deported from the country in 1979 ...
The Ex-PATRIOT Act was a proposed United States federal law to raise taxes and impose entry bans on certain former citizens and departing permanent residents.The law would automatically classify all people who relinquished U.S. citizenship or permanent residence in the decade prior to the law's passage or any future year as having "tax avoidance intent" if they met certain asset or tax ...
The Wall Street Journal reports that 2013 has already set a new record for "expatriations," defined as citizens renouncing More Americans Than Ever Are Renouncing Their Citizenship Skip to main ...
For premium support please call: 800-290-4726 more ways to reach us
An expatriation tax or emigration tax is a tax on persons who cease to be tax-resident in a country. This often takes the form of a capital gains tax against unrealised gain attributable to the period in which the taxpayer was a tax resident of the country in question.
Americans who live overseas have been renouncing their US citizenship in record numbers over the past several years. In 2014, nearly 3,500 people bid a permanent adieu to the states, and the year ...