View Single Post
Old 08-17-2009, 12:35 AM  
Mr Pheer
Retired
 
Mr Pheer's Avatar
 
Industry Role:
Join Date: Dec 2002
Posts: 20,984
Quote:
Originally Posted by DukeSkywalker View Post
denounce your citizenship. there are a kazzilion nice places to live. problem solved.
duke
Did you mean "renounce" your citizenship?

In order to do that, you need to become a citizen of another country first. And, you must first pay the IRS 100% of what you owe, and hope that they dont decide to tax you on your future income earning potential as well. If you have a high income, you can be assessed for the next 10 years after you renounce your citizenship and still owe tax on it to the IRS.

Yes, they do that.
__________________
Get your booster! It's safe
Mr Pheer is offline   Share thread on Digg Share thread on Twitter Share thread on Reddit Share thread on Facebook Reply With Quote