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Renouncing US Citizenship...what are the tax implications?

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prognastat:
At the same time I feel reducing your options by renouncing your citizenship has a large hard to quantify cost. It might never be a problem, but if SHTF wherever you are staying the option to easily return to the US could be invaluable.

Now if you are going to be staying somewhere safer/more stable than the US this might not be much of a concern, but I would suspect most places with a more advantageous tax policy than the US probably aren't as safe/stable as the US. Meaning it would be nice to have a safe backup option in the event that things go south. Question is how much is this backup option worth.

oomotep:

--- Quote from: prognastat on June 10, 2019, 08:51:43 AM ---It might never be a problem, but if SHTF wherever you are staying the option to easily return to the US could be invaluable.

--- End quote ---

Looks like my previous post got edited by the moderator so you missed some of my points about the ease of retuning to the US as an undocumented immigrant, but returning to the states after renouncing citizenship is not that hard.

You just have to do it through the southern border. Thousands of people do it every day, millions more each year.

I know it's a highly charged political topic to bring up immigrating illegally back into the US, but currently it's not that big of a deal, and likely won't be for the foreseeable future.

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