A space for those considering a move to Canada … https://t.co/XdHWMEPuxJ
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) November 21, 2020
Canadians who have been living in the United States as a lawful permanent resident (AKA Green Card) need to be very careful about about abandoning the Green card (severing tax residence with the United States). They may (depending on whether they are a “Long Term Resident”) be subject to the draconian 877A Expatriation tax!
Gary @Clueit in conversation with @IRSMedic and @Expatriationlaw makes it clear that the Sec. 2801 tax on bequests from "covered expatriates" WILL affect his estate planning: Tax traps of holding and attempting to surrender a US #GreenCard" https://t.co/JcWCUx9BqI via @YouTube
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) November 23, 2018