Originally Posted by DangerMouse
We are actually even thinking about giving back our Green Card and cutting all ties to the US to simplify our tax life as we do not see a future here for us.
Make sure you look into this FIRST!
Expatriation After June 16, 2008
If you expatriated after June 16, 2008, the expatriation rules apply to you if you meet any of the following conditions.
Your average annual net income tax
for the 5 years ending before the date of expatriation or termination of residency is more than:
$139,000 if you expatriated or terminated residency in 2008.
$145,000 if you expatriated or terminated residency in 2009 or 2010.
Your net worth is $2 million or more on the date of your expatriation or termination of residency.
You fail to certify on Form 8854 that you have complied with all U.S. federal tax obligations for the 5 years preceding the date of your expatriation or termination of residency.