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New Tax Law Driving Expats To Renounce U.S. Citizenship

Wednesday, November 27, 2013 - 7:31 AM
The number of citizenship renunciations has surged from 742 in 2009 to more than 1,854 so far this year, according to the State Department.

“Individuals that have used offshore accounts to evade tax obligations may rightly fear that FATCA will identify their illicit activities,” says a Treasury web posting. “Yet a decision to renounce U.S. citizenship would not relieve these individuals of prior U.S. tax obligations, and might well create additional U.S. tax obligations for certain citizens and long-term residents who give up citizenship or residency.”

WASHINGTON: New tax law driving expats to renounce U.S. citizenship | Congress | McClatchy DC
4
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,216
1. Wednesday, November 27, 2013 - 8:41 AM
Wonder if this is part of Jim Rodgers move? He says Singapore has the best education and healthcare in the world? From an interview in 2009 after the move--

Jim Rogers Why I moved to Singapore 24 Mar. 2009 - YouTube 
3
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,661
2. Wednesday, November 27, 2013 - 9:29 AM
So that's what happened to Jim Rogers.  He was on a tv financial program I watched and all of a sudden he was not around.  Never knew he was in Singapore!  Wonder how many more well known people we will lose before our country gets it's act together. 
3
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
3. Wednesday, November 27, 2013 - 7:11 PM
The latest from Jim Rogers: "The Fed will Self-Destruct"

Jim Rogers: "The Fed will Self-Destruct" | JIM ROGERS NEWS BLOG
4
ShorebreakShorebreak2,622 posts since
Apr 6, 2010
Rep Points: 14,216
4. Wednesday, November 27, 2013 - 7:49 PM
Everyone has an opinion and Jim Rodgers has been wrong as many times or more than anyone else.  He and Peter Schiff are one and the same as far as I see. 
3
Ally6770Ally6770914 posts since
Jan 16, 2010
Rep Points: 2,661
5. Thursday, November 28, 2013 - 10:29 AM
Jim Rogers stating "We're going to have a crash "some" day" shows he is truly an expert extrodinaire.  And "some" day there is a chance one of us will win the lottery and be multi-millionaires.  I like my experts to be able to get closer to the truth than "some day".  It seems to have worked for Rogers because he managed to make a financial career out of his advice.
1
paoli2paoli21,372 posts since
Aug 10, 2011
Rep Points: 6,011
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