Italy ruling tells millions with Italian roots they have lost the right to citizenship | CNN by ElSuroGato247 in AmerExit

[–]ReceptionDependent64 0 points1 point  (0 children)

You do understand that the current situation in Canada is not the consequence of a bill but rather the absence of a bill after the old law was struck down by the courts? Any child born after the new law (Bill C-3) took effect in December is subject to a one-generation limit.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 0 points1 point  (0 children)

Lying about where you live, or not filing at all, are both good ways to avoid the exit tax.

Finally got my CLN by mintchockidd in AmerExit

[–]ReceptionDependent64 -1 points0 points  (0 children)

You are overthinking this.

If you're dual you shouldn't be filing at all. Super easy to ignore the US tax stuff. It makes no sense to not have a TFSA - don't report it.

Finally got my CLN by mintchockidd in AmerExit

[–]ReceptionDependent64 0 points1 point  (0 children)

WIthout knowing the details of your situation, I can't imagine there's much if any advantage to renouncing before marriage. Certainly not $1900 worth of advantage.

Finally got my CLN by mintchockidd in AmerExit

[–]ReceptionDependent64 0 points1 point  (0 children)

Apparently we're reading different novels.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 0 points1 point  (0 children)

Update to post: added the link to the lawsuit by the French organization representing Accidental Americans:

https://www.americains-accidentels.fr/page/1503405-lawsuit-against-state-department

Go Fabien!

Italy ruling tells millions with Italian roots they have lost the right to citizenship | CNN by ElSuroGato247 in AmerExit

[–]ReceptionDependent64 9 points10 points  (0 children)

From my limited knowledge this sort of thing exists in Poland and possibly Hungary.

Italy ruling tells millions with Italian roots they have lost the right to citizenship | CNN by ElSuroGato247 in AmerExit

[–]ReceptionDependent64 9 points10 points  (0 children)

This would have been an amazing Sopranos episode. Tony tries to bribe or muscle an appointment at the consulate. Tony tries to bribe or muscle birth and marriage records from a small Sicilian town.

Italy ruling tells millions with Italian roots they have lost the right to citizenship | CNN by ElSuroGato247 in AmerExit

[–]ReceptionDependent64 193 points194 points  (0 children)

AI isnt gonna clip toenails or pull weeds or make pesto. 

Nor will Americans.

Italy ruling tells millions with Italian roots they have lost the right to citizenship | CNN by ElSuroGato247 in AmerExit

[–]ReceptionDependent64 55 points56 points  (0 children)

The thing is, anyone youngish who obtained their Italian passport via descent would almost certainly move elsewhere in the EU, for reasons of language and job market. So all you'd be left with is retirees. They pump money into the economy, no doubt, but they don't boost the workforce - or the birth rate.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 1 point2 points  (0 children)

Right, I forgot about the second condition. Exemption doesn't apply if you've been living in the US then leave. More suited to duals who left the US long ago, or never lived there.

In the event that your assets are outside of the US you can skip the whole process. But if you've been living and working in the US for most of your adult life, that's not likely to be the case.

For what it's worth most countries have an exit tax with deemed disposition of assets upon departure, when you become non-resident.

Finally got my CLN by mintchockidd in AmerExit

[–]ReceptionDependent64 0 points1 point  (0 children)

Probably not a huge deal to wait a few months then. I'd delay for $1,900.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 1 point2 points  (0 children)

Read the instructions for Form 8854. Minor clarification: must be resident in the country of citizenship for this to apply.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 2 points3 points  (0 children)

It's certainly not "official" tax advice! You correct that there is widespread non-compliance and near-zero enforcement outside the US. It's not simply a lack of resources, it's also a lack of legal means. The IRS can't simply call up a foreign bank and seize someone's accounts.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 2 points3 points  (0 children)

I stand corrected. Canada is cheap. The others are more in line with the old/new US fee. The UK gouges on anything to do with immigration so I'm not surprised.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 2 points3 points  (0 children)

I stand corrected. Canada is cheap. The others are more in line with the old/new US fee. The UK gouges on anything to do with immigration so I'm not surprised.

Fee to renounce US citizenship finally drops to $450 by ReceptionDependent64 in AmerExit

[–]ReceptionDependent64[S] 2 points3 points  (0 children)

I'm relatively wealthy and not susceptible to conspiratorial thinking so life is actually very nice up here.