Hmm, renouncing my US citizenship looks far easier than I thought. Curious

@tomasino proud to be an american but it's edited to proud to *not* be an american

@tomasino Make sure you've tied up all your loose ends and don't plan on ever returning before you do it. They hold a grudge if you ever decide to return, even to visit

@tomasino Are you ready to write that $2400 check? How much would you save in US taxes a year? Curious.

@buttstuf Probably nothing unless he still has US income/investments or makes over $90k and Iceland has no treaty with the US allowing him to deduct this Icelandic income tax from what he'd owe the US government @tomasino

@trebach @buttstuf i would save about 20k in taxes in the first year. Foreign tax credit has a cap.

@tomasino In other news, an absurdity: it costs $2400 to renounce your citizenship. Even your last action of "Liberty!" and "Freedom!" in the USA (at the time of renunciation) is one that comes with a hefty price tag attached. "USA! USA! USA!" indeed.

@tomasino Try to do Wit's as well or he'll have a nasty surprise waiting for him when he gets older and ever visits the US

@tomasino Is it "I break with y'all, I break with y'all, I break with y'all"?

@cosullivan kinda, but also $2400 cause the US wants one last bit of blood.

The big factor is that even when you surrender citizenship you keep your social security. The SSN make it a non-issue to maintain a US bank, which is what I need to continue my contracts in the US. I can fill out a W-8BEN, but they still want to pay a US bank.

I'm not jumping into it, though. We'll see if the country displays any sanity this autumn or not, and I'll consult with some legal professionals first.

@tomasino @cosullivan $2400?! What are they going to do if you don't pay them -- exile you? Have somebody from the closest embassy show up at your house and give you a stern talking to?

I'm glad to hear about the SSN/banking thing, as I was actually thinking about that this morning. Someday I think I'm going to emigrate from the US and drop the US citizenship if I have to (although that's at least a decade or two away)

@jebug29 @cosullivan the rules may be all different by then. The $2400 is relatively new. Before FACTA there was no charge at all.

@tomasino @cosullivan Hopefully they do; it really does seem weird to charge somebody to literally give up the ability to live in the country that's either their home country or one where they spent decades to get citizenship for. Maybe it's more of a "you better make sure this is what you want to do" first kind of thing, but honestly by the time someone decides they genuinely want to do it, demanding *that much* cash is a bit excessive.

@jebug29 @cosullivan they added all the fees to trap the super-rich who were moving their money over seas to avoid taxes. It's just that the way it's done is kinda dumb. Taxing expats in the first place is stupid. If they didn't do that it would be a non-issue. I could just ignore the country and be done with it.

@tomasino @cosullivan Ahh that all makes sense. I didn't even realized they taxed you overseas; I just figured if you didn't make money in America, it wasn't America's money.

Taxes and countries are so annoying. Annoying enough to make a man want to throw tea into a harbor.

@jebug29 @cosullivan The united states and Eritrea... the only dinguses that tax their expats on world income

@tomasino arghh yeah... bad memories of that when my wife and I were in the UK. She had to file US taxes, despite never owing anything due to UK having higher tax. Was a nightmare due to the tax years in UK vs US having different dates, plus her being a shareholder in an s-corp (which didn't make money but... cost money in tax complexity).

This is the main reason why I'm not a US citizen yet.... waiting until I am certain will be staying here for good.

@jebug29 @cosullivan

@dctrud I stayed for 23 years in the US and didn't pursue citizenship, I forfeited voting for awhile in case the US electoral college and the government done went plum loco. @tomasino @jebug29

@tomasino @jebug29 Speaking from personal experience US immigration offices are largely self-funded now. Paid $550 for a Green Card renewal which lasted about 1-2 years before I upped and left in 2019. They made me surrender my Green Card, I can enter under special (sad) circumstances but I need an American with me, an American who needs me to drive them. TMI, but I'm punchy from the heat.

@jebug29 @cosullivan if you don't pay them they will say you're still a citizen and try to collect taxes on you and eventually issue a warrant and arrest you if you try to enter the country again. If there's agreements with the country you've moved to they may try to have the charges reflected there or even extradite. Really it's just up to how annoying they want to be about it.

@tomasino @cosullivan Alas, what happened to the world where a person could just be a dingus and get exiled three or four times when they felt like it :')

@xmanmonk @tomasino @cosullivan Japan Japan Japan!

I don't think I'd actually survive in Australia. I'm too scared of venomous things ^^; And things with more than four legs

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