|
Took a senior aerospace job in CA 10 years ago over working for the same firm in the UK. No real thought was put into it, lets just say they sold me on the idea of the everyday sunshine.
The move required issuance of a Green card, but of course all the IRS gotchas associated with taxing of worldwide assets was omitted from INS pamphlets. I've only recently discovered that if I plan to retire here (CA) as planned next year I will get crucified from relocating my UK assets (including UK primary residence) to the US, all of which I was relying on to achieve ER.
Even worse is that if I choose to retire elsewhere outside the US, the IRS still has claims on my worldwide income for an additional 10 years. No other country I know of lays down these types of claims. What a loaf I was to have moved in the first place!!
Can the IRS really track your overseas assets, and if you leave and renounce your Green card, the 10 years statute requiring you to still file taxes surely becomes moot if you never return? .Has anyone run into this problem?, and if so have you just accepted the sting and the pinch and gone ahead anyway, or left the US never to return?
Yours regrettingly
SpaceTraveler
|
Threaded Mode
