Looking to Get Out of the US Federal Tax System - Golding & Golding (Board Certified Tax Specialist)

Exiting the United States, Federal Taxes and More

For US Citizens and certain Lawful Permanent Residents who are considered Long-Term Lawful Permanent Residents, the process of leaving the United States and giving up their US status (aka expatriation) can be unnecessarily complicated. That is because when US Citizens and Long-Term Residents either renounce their US citizenship or relinquish their Lawful Permanent Resident status, there are several formalities they may have to go through in order to obtain freedom from the US tax system – at least freedom from being taxed as a US person on their worldwide income. There are many twists and turns involving expatriation, so here are six important tax implications to be aware of when moving out of the United States.

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