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What financial implications are there, aside from "The IRS wants to make sure you're not leaving just before an anticipated windfall to avoid taxes?"
by fancyketchup 11y ago
What financial implications are there, aside from "The IRS wants to make sure you're not leaving just before an anticipated windfall to avoid taxes?"
- bsder 11y agoFor example: you have to pay up front, lump sum taxes on things like pensions and retirements, but you still can't withdraw them. It's expensive to renounce US citizenship.
- ForHackernews 11y ago> lump sum taxes on things like pensions and retirements You mean if they've been living and working for years in the US, and taking advantage of US tax-advantaged retirement accounts? Now we're talking about a different person than the parent commenter: "(loosely defined as people who were born in the US decades ago) who do not live or work in the US "