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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (137013)	7/28/2008 12:00:27 PM
From: MoneyPenny	Read Replies (1) \| Respond to of 306849

Something that might be of interest to you John, is the recently imposed "exit tax" legislation, passed by Congress in May and made law June 17th. Have we discussed this here? I do not remember it. It is called the Heroes Act and this provision is inserted into an bill that provides certain help to veterans of the Iraq war. It imposes a tax on people expatriating if their net worth is over $2m. It is calculated like the Estate tax and treats all property as being sold and all deferred income retirement accounts as being distributed. There is an exclusion of $600k for any unrealized gain or deferred income. My head hurts just typing this. I'll try to find some links, but it is getting very little play as of yet. opencongress.org Reference: Title III MP