* *
395 Guests, 1 User

Author Topic: Tax Evaders Renounce U.S. Citizenship  (Read 740 times)

Offline me again

  • Bought with a price...
  • Administrator
  • Hero Member
  • *****
  • Posts: 3632
    • View Profile
    • Poke This Member
    • http://theologyreview.com/
Tax Evaders Renounce U.S. Citizenship
« on: January 25, 2012, 04:46:58 PM »
Quote
Rather than deal with the complexities of U.S. tax law, Americans living overseas are increasingly renouncing their citizenship in order to avoid paying their income taxes.
 
According to National Taxpayer Advocate Nina E. Olson, approximately 4,000 people gave up their citizenship from fiscal year 2005 to FY 2010. Renunciations increased sharply within the past three years, from 146 in FY 2008 to 1,534 in FY 2010. And during the first two quarters of FY 2011 alone, 1,024 Americans ditched their citizenship.
 
The advocate’s report cites two reasons for the renunciations. First, many taxpayers abroad say they are confused “by the complex legal and reporting requirements they face and are overwhelmed by the prospect of having to comply with them.”
 
Second, others have accused the Internal Revenue Service (IRS) of “bait and switch” tactics, telling Americans they can resolve their unpaid taxes under an “older voluntary disclosure programs with the promise of reduced penalties, only to find themselves subjected to steeper penalties.”
 
According to tax attorney Andrew Mitchel, another factor has been a change of law in 2008 that means “non-U.S. citizen, nonresidents can now annually visit the U.S. for 120 or more days without becoming taxed as U.S. residents (under the pre-2008 rules, visits to the U.S. for more than 30 days during any of the 10 years following expatriation caused the individual to be treated as a U.S. resident for that year).”

http://www.allgov.com/US_and_the_World/ViewNews/Tax_Evaders_Renounce_US_Citizenship_120124

Our taxes are pretty complicated, but is it that bad? Wow!!! Make sure you read some of the comments at the end of the article too.  :o
"So then, stand firm and hold to the traditions :o which you were taught by us, either by word of mouth or by letter" (2 Thessalonians 2:15).

 

Sponsors

Recent

Shoutbox

Last 5 Shouts:

 

Stan

May 03, 2014, 01:12:35 PM
Lots of visitors..  easy to join,  easy to post...  come make some friends..  Play nice with others.
 

The Crusader

February 26, 2014, 04:30:18 PM
Religious Lie: "God only paid for sins until the next time you sin."
 

The Crusader

December 23, 2013, 09:38:53 AM
JUST A THINK ABOUT IT: Will you embrace the full meaning of Christmas? Jesus didn't die just so you could go to heaven. He came to give you life - His life; an abundant life free from guilt, condemnation, and slavery to both sins and religion. He came to bring a grace revolution to the world and tha
 

Stan

November 30, 2013, 11:46:50 AM
Welcome to the site, easy to register, easy to post, easy to make new friends.  Ask Questions, give ANSWERS.
 

The Crusader

October 25, 2013, 10:52:56 AM
“As "you can lead a horse to water, but you can't make one drink," so also, "You can drag a Christian to the truth, but you can't make one think”

Show 50 latest

Our Amazon Store


Unique visitors since Dec 1, 2012

Flag Counter

who dropped in from where?