dorkitup 1 #1 April 18, 2012 It seems some US citizens renounce their citizenship...for tax purposes. I can't say I blame some of them. Like the guy in the article who the IRS forces to share info on accounts that he holds jointly with his Canadian wife. Not the IRS's business in my opinion. Also from the article, the whole "name and shame" thing is an asshole thing for the IRS to do. What are your thoughts? http://finance.yahoo.com/news/tax-time-pushes-americans-hike-204320491.html Quote Share this post Link to post Share on other sites
wmw999 2,453 #2 April 18, 2012 If you expect to use the benefits of being an American, you should expect to pay taxes for it. If you choose to remain elsewhere, I have no issue with that. Brits do it; some Swedes do it. But then don't live in the country. Wendy P.There is nothing more dangerous than breaking a basic safety rule and getting away with it. It removes fear of the consequences and builds false confidence. (tbrown) Quote Share this post Link to post Share on other sites
nanook 1 #3 April 18, 2012 QuoteIt seems some US citizens renounce their citizenship...for tax purposes. I can't say I blame some of them. Like the guy in the article who the IRS forces to share info on accounts that he holds jointly with his Canadian wife. Not the IRS's business in my opinion. Also from the article, the whole "name and shame" thing is an asshole thing for the IRS to do. What are your thoughts? http://finance.yahoo.com/news/tax-time-pushes-americans-hike-204320491.html Hi, dork. What that guy should have done was split up the accounts to individual status and filed Married Filing Separate. Of course he would have lost a lot of deductions, but many here actually do that to protect tax issues from each other._____________________________ "The trouble with quotes on the internet is that you can never know if they are genuine" - Abraham Lincoln Quote Share this post Link to post Share on other sites
mnealtx 0 #4 April 18, 2012 That would help with income from his wife's business, but doesn't do a thing about any foreign bank accounts and/or trusts which would still have to be reported.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
nanook 1 #5 April 18, 2012 QuoteThat would help with income from his wife's business, but doesn't do a thing about any foreign bank accounts and/or trusts which would still have to be reported. Yeah, true. Probably because even if "separate", the spouse could theoretically provide "income" to the taxpayer, which is taxable, which is probably what the IRS is thinking._____________________________ "The trouble with quotes on the internet is that you can never know if they are genuine" - Abraham Lincoln Quote Share this post Link to post Share on other sites
mnealtx 0 #6 April 18, 2012 QuoteQuoteThat would help with income from his wife's business, but doesn't do a thing about any foreign bank accounts and/or trusts which would still have to be reported. Yeah, true. Probably because even if "separate", the spouse could theoretically provide "income" to the taxpayer, which is taxable, which is probably what the IRS is thinking. Yep - any foreign bank account, trust, business...it all has to be reported to the IRS.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
Coreece 190 #7 April 18, 2012 QuoteIt seems some US citizens renounce their citizenship... Then good luck passing a NICS check... edit btw, I don't really have a point...just sayin' You'll know what I mean if you ever had one...Your secrets are the true reflection of who you really are... Quote Share this post Link to post Share on other sites
tkhayes 348 #8 April 18, 2012 http://travel.state.gov/law/citizenship/citizenship_776.html Paragraph E, taxes do not look like a valid reason to the State Dept and the IRS Quote Share this post Link to post Share on other sites
mnealtx 0 #9 April 18, 2012 Quotehttp://travel.state.gov/law/citizenship/citizenship_776.html Paragraph E, taxes do not look like a valid reason to the State Dept and the IRS Valid reason? Where is that stated? All Para. E says is that they can still be held liable for tax obligations, not that State needs a 'reason'.Mike I love you, Shannon and Jim. POPS 9708 , SCR 14706 Quote Share this post Link to post Share on other sites
