Tax consequences of becoming a US citizen

[Ben Laurie]

Nomen Nescio wrote:
> On Tue, Jul 09, at 02:02PM, Tim May wrote:
> 
>>>Also, a person having extensive offshore (outside the U.S.)
>>>assets may well find his assets are now taxable in the U.S.
>>>And for those with capital assets not taxed in their home
>>>countries (e.g., Germany, Japan), this may be quite a shock.
>>
> 
> On 9 Jul 2002 at 18:40, Gabriel Rocha wrote:
> 
>>This applies wether he is a US citizen or not, green card holder
>>or not, Sealand citizen or not. Once the IRS sinkstheir claws
>>into you, you're screwed.
> 
> 
> Are you saying that if someone is legally resident in the US for a
> while, the US IRS will attempt to get his assets all over the
> world forever?  I find this hard to believe.
> 

Fascinating. Take it to taxpunks.

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