Sometimes people who expatriate — give up their U.S. citizenship or green cards — want to visit the United States. This might be for business reasons, family reasons, or just to have some fun.
Here’s how to keep that hard-won status of “not a U.S. taxpayer”, even if you return to the United States after expatriating.
Reader C inspired the topic in an email to me:
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It was my understanding that once I have given up my citizenship I would be treated like any other foreigner ie I could stay in the US for up to 60 days assuming I had the appropriate visitors visa.
Just knowing the paperwork you need to file with the IRS is not enough – you need to know when to file, too. Let’s talk about tax filing deadlines for Expatriates.
Here are the possible tax filings that you may need to do. Not all of these will necessarily apply to you.
We recently helped a green card holder clean up his tax situation so he could avoid covered expatriate status. This is his own post-mortem of the process.
It is a familiar story: green card holder returns to his home country but does not formally cancel his immigrant visa. He does not know about the ongoing tax-filing obligations imposed by the U.S. on green card holders.
Eventually, he learns of the problem and wants to file Form I-407 and tie up his loose ends. He is not rich enough to be a covered expatriate ($2,000,000 or more net worth) but his tax returns for the previous five years were not up to snuff.... continue reading
You can become a covered expatriate if your average tax liability for the previous five years is above a certain amount ($162,000 for expatriations in 2017).
Calculating this average amount is a bit of a pain.
Don’t be “covered expatriate”.
Is it possible to renounce your U.S. citizenship, live outside the United States, collect 100% foreign income, and still be under the IRS’s thumb? (YouTube).
Here is what it takes:
Here’s what happens to you: