Whoops!,
Should have checked further, It seems the Bill passed the house but has not
been taken up by the Senate.'
H.R. 3056 is the House Bill http://www.opencongress.org/bill/110-h3056/show
Here is the story on an interesting site for those who are considering
relocating. http://www.escapeartist.com/efam/96/exit_tax.html
Philip
At 09:35 AM 10/1/2008, you wrote:
All should be aware that Congress passed, as an amendment to another Bill,
signed into law that says if an American Citizen gives up his/er
citizenship and becomes a citizen of another country they will forfeit 20%
of their cash and investments. Sort of a grand departure tax. Not well
known, I only found it by luck. Sorry - can't provide the link.
ALSO Social Security requires that you notify them if you change your
residency to one outside the country. Not to hard to jump from that to
cutting off your check if you do.
Make plans accordingly.
Philip
Be the change you want to see"
Philip & Marilyn Lange
AE4OV & KD4JRC,
ORYOKI
Witness 35 Catamaran
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