Posts under the Expatriates category.

What Happens to Your Retirement Plans and IRAs when You Relinquish US citizenship or abandon your green card?

The U.S. is the only country in the world which levies taxes on the basis of citizenship rather than residency—meaning people can be liable to the IRS without ever having lived in the country, if they hold a U.S. passport or green card. AU.S. citizen or a long-term resident can permanently disconnect from future tax obligations by relinquishing their U.S. Continue Reading »

Abandoning US Citizenship or Green Card? Here is Something You Should Know

If you are a U.S. citizen or a permanent U.S. resident, you are taxed on your worldwide income. It does not matter where you live, where the income is earned, or where else you might pay tax. Many US citizens and Green Card holders are finding themselves in a situation where they are working abroad US but paying tax on their global income in the US. Continue Reading »