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Old 05-12-2020, 04:01 PM
 
3,158 posts, read 4,564,283 times
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The greatest Illusion ever sold..You think your FREE? Only in America, your still owned if you leave! .


Americans Giving Up Citizenship Faster Than Ever Before Reports Bambridge Accountants New York:

Quote:
“For U.S. citizens living abroad, they are still required to file U.S. tax returns, potentially pay U.S. tax and report all their foreign bank accounts, investments and pensions held outside the U.S. For many Americans this intrusion is too much and they make the serious step of renouncing their citizenship as they do not plan to return to live in the U.S.https://www.newswire.com/news/americ...ports-21142429

Last edited by Ibginnie; 05-17-2020 at 09:32 AM.. Reason: Manual signatures are not permitted per the TOS
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Old 05-12-2020, 04:03 PM
 
4,445 posts, read 1,434,587 times
Reputation: 3609
Well ... Bye.
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Old 05-12-2020, 05:09 PM
 
10,181 posts, read 6,228,722 times
Reputation: 11258
Quote:
Originally Posted by WildCard~ View Post
The greatest Illusion ever sold..You think your FREE? Only in America, your still owned if you leave! .


Americans Giving Up Citizenship Faster Than Ever Before Reports Bambridge Accountants New York:


~History will not remember "president" Trump or the GOP kindly at all - they will be a cautionary tale for future generations about how ignorance and the denying of science can destroy a nation and kill people, Trump really is the most incompetent President this nation has ever had known. TRUMP.. UNSTABLE NON-GENIUS NARCISSIST KNOWN LIAR! ..." HE'S IMPOTUS FOR A REASON. "COME NOVEMBER AMERICANS WILL REMEMBER!" 45 will sacrifice millions for his personal gain. Your president wants all the authority, none of the responsibility. Trump Death count keeps going up daily!~ WildCard
Interesting topic as a genealogist. Dual Citizenship. My Paternal Cousin's Mother was an Irish Citizen at his birth which gave him Dual Citizenship. He had two Passports when his Mom took him back to Ireland; one for going there, and one for coming back. He never renounced his Irish Citizenship and is now 60 years old.

Found out something very interesting doing my Maternal genealogy. My Great-Grandfather never became a US Naturalized Citizen, and therefore, never renounced his Italian Citizenship. My Grandma, though born in the US and Citizen by birth, never renounced her Dual Citizenship either. Add my Mom to that. As such, I would qualify by blood for Italian Citizenship after all those generations according to Italian Law.

Wonder how many American would qualify and don't even know?

Last edited by Oldhag1; 05-13-2020 at 10:41 AM.. Reason: Fixed formatting
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Old 05-13-2020, 06:14 AM
 
Location: Seacoast NH
1,731 posts, read 855,246 times
Reputation: 1864
Quote:
Originally Posted by Jo48 View Post
Quote:
Originally Posted by WildCard~ View Post
The greatest Illusion ever sold..You think your FREE? Only in America, your still owned if you leave! .


Americans Giving Up Citizenship Faster Than Ever Before Reports Bambridge Accountants New York:


~History will not remember "president" Trump or the GOP kindly at all - they will be a cautionary tale for future generations about how ignorance and the denying of science can destroy a nation and kill people, Trump really is the most incompetent President this nation has ever had known. TRUMP.. UNSTABLE NON-GENIUS NARCISSIST KNOWN LIAR! ..." HE'S IMPOTUS FOR A REASON. "COME NOVEMBER AMERICANS WILL REMEMBER!" 45 will sacrifice millions for his personal gain. Your president wants all the authority, none of the responsibility. Trump Death count keeps going up daily!~ WildCard
Interesting topic as a genealogist. Dual Citizenship. My Paternal Cousin's Mother was an Irish Citizen at his birth which gave him Dual Citizenship. He had two Passports when his Mom took him back to Ireland; one for going there, and one for coming back. He never renounced his Irish Citizenship and is now 60 years old.

Found out something very interesting doing my Maternal genealogy. My Great-Grandfather never became a US Naturalized Citizen, and therefore, never renounced his Italian Citizenship. My Grandma, though born in the US and Citizen by birth, never renounced her Dual Citizenship either. Add my Mom to that. As such, I would qualify by blood for Italian Citizenship after all those generations according to Italian Law.

Wonder how many American would qualify and don't even know?



There are certain other countries Americans can hold dual citizenship in. Ireland is one of them as my cousin has a dual citizenship with that country. My sister and I are not able to get it because of restrictions. My cousin is from the same generation as my dad. Because he was only 2 generations out of Ireland (for lack of better wording), he was able to obtain citizenship. My sister and I, though, are the third generation out and not able to get it. Dad could have, but never wanted to.


Other countries that I believe can be dual citizens are England, Canada and Israel. My neighbors back in NH are all dual citizens - US and Israel. There may be more countries but I don't know them offhand.

Last edited by Oldhag1; 05-13-2020 at 10:42 AM.. Reason: Fixed formatting
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Old 05-13-2020, 06:16 AM
 
Location: Seacoast NH
1,731 posts, read 855,246 times
Reputation: 1864
Quote:
Originally Posted by WildCard~ View Post
The greatest Illusion ever sold..You think your FREE? Only in America, your still owned if you leave! .


Americans Giving Up Citizenship Faster Than Ever Before Reports Bambridge Accountants New York:


~History will not remember "president" Trump or the GOP kindly at all - they will be a cautionary tale for future generations about how ignorance and the denying of science can destroy a nation and kill people, Trump really is the most incompetent President this nation has ever had known. TRUMP.. UNSTABLE NON-GENIUS NARCISSIST KNOWN LIAR! ..." HE'S IMPOTUS FOR A REASON. "COME NOVEMBER AMERICANS WILL REMEMBER!" 45 will sacrifice millions for his personal gain. Your president wants all the authority, none of the responsibility. Trump Death count keeps going up daily!~ WildCard



The title of this should actually read: "Americans giving up Residency faster than ever"


If you maintain US citizenship, yes, you still have to file taxes, etc. If you give up citizenship, you do not.
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Old 05-13-2020, 06:25 AM
 
Location: Phoenix
29,783 posts, read 18,638,771 times
Reputation: 25771
Quote:
Originally Posted by WildCard~ View Post
The greatest Illusion ever sold..You think your FREE? Only in America, your still owned if you leave! .


Americans Giving Up Citizenship Faster Than Ever Before Reports Bambridge Accountants New York:


~History will not remember "president" Trump or the GOP kindly at all - they will be a cautionary tale for future generations about how ignorance and the denying of science can destroy a nation and kill people, Trump really is the most incompetent President this nation has ever had known. TRUMP.. UNSTABLE NON-GENIUS NARCISSIST KNOWN LIAR! ..." HE'S IMPOTUS FOR A REASON. "COME NOVEMBER AMERICANS WILL REMEMBER!" 45 will sacrifice millions for his personal gain. Your president wants all the authority, none of the responsibility. Trump Death count keeps going up daily!~ WildCard
Went from 2300 to 2900 in the 1st quarter due to coronavirus....that's a super small number.

I worked for many years overseas and the USA is the only 1st world country where you still have to pay taxes if you don't even set foot or work in the country and has onerous tax reporting including reporting all foreign bank accounts with huge fines for not reporting. If you're working overseas and you have stronger ties in another country, it makes perfect sense to renounce US citizenship.
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Old 05-13-2020, 06:38 AM
 
672 posts, read 438,224 times
Reputation: 1484
Quote:
Originally Posted by gailjnh View Post
The title of this should actually read: "Americans giving up Residency faster than ever"


If you maintain US citizenship, yes, you still have to file taxes, etc. If you give up citizenship, you do not.
You do not just give up US citizenship. Last I heard it cost about 8k.
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Old 05-13-2020, 06:41 AM
Status: "Ephesians 6:12" (set 14 days ago)
 
44,987 posts, read 26,136,569 times
Reputation: 24729
Why do we care?

In other news people have stopped living their own lives in exchange for what politicians tell them is acceptable, essential, required...
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Old 05-13-2020, 06:45 AM
 
57,022 posts, read 35,003,266 times
Reputation: 18824
Living abroad shouldn’t exempt anyone from their tax obligations. If they get in trouble, they’ll be calling Uncle Sam for assistance.

So the best thing is to just renounce your citizenship if you don’t wanna pay taxes. It’s that simple. But American citizens should pay American taxes no matter where they live.
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Old 05-13-2020, 06:58 AM
 
Location: Phoenix
29,783 posts, read 18,638,771 times
Reputation: 25771
Quote:
Originally Posted by desertdetroiter View Post
Living abroad shouldn’t exempt anyone from their tax obligations. If they get in trouble, they’ll be calling Uncle Sam for assistance.

So the best thing is to just renounce your citizenship if you don’t wanna pay taxes. It’s that simple. But American citizens should pay American taxes no matter where they live.
Taxes pay for the common defense, infrastructure, services, medicare and Medicaid, etc. If you are not availing yourself of any of that, why pay taxes to support it?

I worked 15 years overseas and many of those years I worked in nations that didn't tax workers such as Saudi Arabia and Kuwait and only Americans were paying taxes to their government which puts us at a disadvantage compared to Brits, Aussies, Germans, Italians, etc.

In my case, I always maintained my ties to the USA so there was no philosophical reason for me to renounce my citizenship even though I would have been wealthier if I had. But I know many Americans who have effectively emigrated due to marriage, preference, etc. and never plan to return so for these people it makes sense for them to renounce their citizenship.
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