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originally posted by: Merlynn
originally posted by: ketsuko
originally posted by: AugustusMasonicus
Sure they can, but it is usually an irreversible path. I personally know someone who moved to Singapore, renounced their United States citizenship and pays no income taxes.
Well, that's if you want to avoid Federal taxes. And the way things are going these days, it's getting less and less advantageous to be an American citizen all the time.
I know lots of people working overseas to avoid taxes. No need to revoke citizenship if you make less than $97,000 a year. Only problem is you still have to file a return. But then again there really isn't a law that says you have to file taxes so maybe some don't.