On Receiving my Certificate of Loss of Nationality

Post by jacquesm » Thu, Oct 14, 2021, 7:00 PM UTC

KennyBlanken wrote: post #45

jacquesm wrote: post #32

Earlier quoted context omitted.

No, this goes much further than that. They also want a slice of all the other bar tabs that you will run up in the future abroad.

The author of the article in question very specifically complains about having to settle up her tax bill and fix her tax accounting before she's allowed to renounce her citizenship, like this was some massive travesty of justice. She also doesn't complain about paying taxes, but having her accounts reported to the IRS, and having to disclose the fact that she has access to funds in accounts not in her name....as well…

Post by monocasa » Thu, Oct 14, 2021, 7:01 PM UTC

jacquesm wrote: post #44

hbrav wrote: post #33

I have a question about this, that I've never been able to find a good answer to: what happens if you unilaterally renounce US citizenship? Consider the situation: you're a dual US / Dutch citizen. You want to avoid paying US income tax (or just to avoid filling in a form each year that results in the IRS telling you that your tax bill is $0 because the Netherlands' tax rate is higher). But the State Department's ren…

It will make you in violation of the law, and that could come back to haunt you in the future, for instance when and if you want to go and visit your family back in the USA. I would strongly recommend against going that route. Besides that, you still have to get your 'new' country to give you citizenship as well, which will go a lot smoother if the new citizenship is paired with renouncing the USA one, you really don…

Post by Rapzid » Thu, Oct 14, 2021, 7:01 PM UTC

voisin wrote: post #16

The conversation here at this moment seems to be focused solely on whether or not it is complicated or costly to keep filing US taxes. This misses the point in that the US is the _only_ developed country to impose worldwide taxation on its citizens regardless of where they live. The only other country to do so is Eritrea and the US has routinely criticized them for doing so. Moreover, it makes expats ineligible for c…

Post by rognjen » Thu, Oct 14, 2021, 7:02 PM UTC

voisin wrote: post #49

rognjen wrote: post #39

What a whiny and melodramatic series of posts from a privileged person giving up one first class citizenship for another out of economics and convenience. Many of my compatriots wait longer, pay less in absolute but more in relative terms and celebrate afterwards. Lots of us would do well to be more grateful.

Is it whiny and melodramatic to want banking and investment services in your country of residence? Is it whiny and melodramatic to want to be able to utilize the retirement savings plans of your country of residence? This isn’t just economics and convenience. It is basic living and Americans abroad are treated like second class citizens relative to those of other countries.

Post by xxpor » Thu, Oct 14, 2021, 7:03 PM UTC

andylynch wrote: post #29

marstall wrote: post #12

ELI5 why she renounced her citizenship? Not getting it from that post, a 3 minute wander on her site and the FATCA Wikipedia page.

If you’re a US citizen living in another country you’ll find many banks and financial institutions decline to have you as a client because dealing with FATCA makes it far more trouble than it’s worth. No other developed country makes similar demands.