I'm a fan of the web site "daily reckoning" and its founder Bill Bonner. He's an American ex-pat living in London/Paris/where-ever these past twenty years or so. Recently, he wrote about the family hassle of becoming a "non-resident resident" of Florida so he could save on his taxes (he originally was from Maryland.) No details of it were offered, but I guess it is a thing to do if you are in the higher income brackets. * SIGH * I should have such a problem. I like FL, but the lack of income taxes is not a big factor to the likes of me, with income in the low $20K's. Lately, we are more than making up for it with property taxes! I have no idea about registering a car. While I never had a car overseas in the military, I used to like the mint-green "USA" license plates you would see around Washington DC. I don't know if they still have these, but that would be cool ... I guess they are theoretically for overseas. I worked with one ex-AF guy who imported his car, an old wreck, and drove for a couple years on military plates. I think his said "AFG" (air force Greece?) He finally did get some VA plates though.
U.S. expats and state taxes
- Thread starter ladelfina
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Notmuchlonger
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Is there anyway to give up your citizenship?
bssc
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This is especially important for people who have dual citizenship. We had friends who were born in Turkey (on base) went elsewhere and then came back. The problem was that the son turned 18 while in Turkey and then became eligible to be drafted in the Turkish army. There needed to be some paper shuffling to get out of that one.
I owe the Iranian Army service and they do not accept renunciation of their citizenship.
Notmuchlonger
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Be a great way to not pay state taxes then.
Maybe State, but not necessarily Federal. You can still be taxed up to 10 years in some circumstances. Though I don't know how well they can enforce it you've already been released from citizenship.
Expatriation Tax
Plus, your renunciation can be denied for whatever reason the govt sees fit. Not as simple or easy at it seems.
Notmuchlonger
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Well I dont agree with that law thats for sure. Once you renounce that should be it.
Everyone agrees it should but the IRS.
Anyway, once you've renounced and are residing in another country, it would be hard for them to come into your new country and collect. And it wouldn't be worth the expense for some Joe Schmo that doesn't have the big bucks.
But they could nab ya if you ever tried to re-enter the States one day.
