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.
Anyway it's not an issue for non-rich expats, you just have to file a tax return which shows you owe $0.
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.
EDIT: https://en.m.wikipedia.org/wiki/Reed_Amendment_(immigration) (Thanks, ChatGPT!)
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_State...
It's pretty expensive and difficult.
actually you are not free to do that. renouncing citizenship requires a reason other than "to escape tax obligations"