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To: Amy J who wrote (22199)1/26/2005 6:43:05 AM
From: redfish  Read Replies (2) | Respond to of 116555
 
As I recall what the law does is trigger income recognition on all appreciated assets if you renounce your citizenship. I don't think it depends on which nation you are moving to.

If you bought XYZ stock for $100 and it is worth $500 when you renounce, the capital gain is recognized and you have to pay the tax on it before you renounce.



To: Amy J who wrote (22199)1/26/2005 7:19:01 AM
From: Dale Baker  Respond to of 116555
 
Some info on taxation for US expatriates:

taxmeless.com

It's also true that former US citizens can have a hard time getting a visa to visit the US - they are assumed to be intending immigrants unless they can prove very strong ties to their new country. Don't blame the INS or the US embassies, Congress wrote the laws that all immigration and consular officials follow.



To: Amy J who wrote (22199)1/26/2005 12:36:49 PM
From: Jim McMannis  Read Replies (2) | Respond to of 116555
 
RE:"This sounds inaccurate to me."

Well, try it, see what happens and let us know.