Tax consequences...

[F. Marc de Piolenc]

Nomen Nescio wrote:

> So what you are suggesting is that I might as well take out US
> citizenship, since the IRS behaves just as piratically and
> imperially to anyone who gets a job in the US?

Considering only taxes, I think that's correct. You do need to consider
other things, such as what happens to your citizenship in your native
country if you are naturalized in a foreign country. Some governments
don't care, while others will treat you as an alien when you return.

As for the IRS: Your green card status means you have put yourself
squarely in their sights. Giving up the green card apparently doesn't
get you immediately off the hook, as they will still try to tax you like
a citizen. I recommend getting advice from a good US tax ATTORNEY (not a
tax preparer, who is basically an IRS employee paid by you), without
disclosing your SSN or any other identifying numbers even to him. You
also need to find out about tax treaties between your native country and
the US.

So much for legalities (which the IRS tends to ignore anyway, when they
don't suit them). Tactically, you have probably already disclosed
certain things to the IRS, and have immovable and illiquid assets within
their reach that are identifiable with you. You have to weigh the
advantages of simply moving offshore and telling them to pound salt
against what they can grab when/if you do so. You may find you need a
period of preparation during which you make your assets less vulnerable
and/or less easy to trace to you.

Marc de Piolenc

-- 
Remember September 11, 2001 but don't forget July 4, 1776

They that can give up essential liberty to obtain a little temporary
safety deserve neither liberty nor safety. - Benjamin Franklin