On June 25, 2020 Dr. Karen Alpert and I did a series of podcasts where we discussed how renunciation will affect your interaction with the US tax system. The key point is that you will still be taxable by the United States on US source income. What does that mean? Under what circumstances could renunciation of US citizenship actually increase your US tax liability?
Part 1: US Taxation of Nonresident aliens: What is a nonresident alien? The taxation and witholding on FDAP and ECI income – conversation between @ExpatriationLaw and @FixTheTaxTreaty https://t.co/Rcu0FfppyW
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) June 25, 2020
Part 2: US Taxation of Nonresident aliens: How US Source Income May Affect Your Decision To Renounce US Citizenship AKA #citizide – conversation between @ExpatriationLaw and @FixTheTaxTreaty https://t.co/jnUhkSCvHL
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) June 25, 2020
Part 3: US Taxation of Nonresident aliens: How US IRAs and 401ks are taxed to nonresident aliens – conversation between @ExpatriationLaw and @FixTheTaxTreaty https://t.co/tmk9ZBF89X
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) June 25, 2020
John Richardson – Follow me on Twitter @ExpatriationLaw