Renounce Citizenship

Foreign citizens with a “green card” are always puzzled by green card tax requirements. A green card grants US permanent residency status to its owners. However, the U.S. imposes American income taxes on the worldwide income of U.S. citizens and green card holders even if they live abroad. As a...

American citizens are taxed on their worldwide income. This well-known fact is probably the main reason that more American expats renounce citizenship. Before we discuss the procedure to renounce citizenship, let’s review the history of tax system and double taxation in the USA. All other countries except for Eritrea use...