Interesting article about citizenship and taxes. Gives good theory about how it's smarter to just leave the country and not file a tax return than to renounce and risk being rejected for a visa due to the Reed Amendment:
http://www.johntreed.com/renouncingUScitizenship.html
Of course, renouncing only makes sense if you're a millionare and most of your money is from investments. Get around the CFC and PFIC laws, and there's gotta be a way to defer taxation on investment income.
http://www.johntreed.com/renouncingUScitizenship.html
Of course, renouncing only makes sense if you're a millionare and most of your money is from investments. Get around the CFC and PFIC laws, and there's gotta be a way to defer taxation on investment income.