Hedge Funds: Get Set to Register

Discussion in 'Wall St. News' started by monty21, Jun 15, 2009.

  1. #11     Jun 16, 2009
  2. Not anymore. You're referring to an old rule. The HEART legislation, passed last July, changed that rule. Now, you no longer owe taxes after renunciation. Instead, a capital gains tax is levied against your worldwide assets as a condition of the United States releasing you from citizenship. So, they rob you once and you're done.
     
    #12     Jun 17, 2009
  3. just to add...you will be taxed if you spend more than 60 (or is it 30 days?) in the country just like a citizen even after you've renounced and paid your cap gains tax. So, once you leave, you really have to leave.
     
    #13     Jun 17, 2009