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Leaving Las Vegas - or anywhere else in the US. Exit taxes and the price of leaving America
Manage episode 449589252 series 3614583
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Canadians who return to the country after working south of the border may face “punitive” exit taxes from the U.S. and it doesn’t matter if their leaving is due to a divorce, illness or something else.
Darren’s guest is John Richardson of Citizenship Solutions, a Toronto-based lawyer who was born in the U.S. and has lived most of his life in Canada. His practice is largely devoted to assisting Americans who live outside the U.S. John says Americans living in Canada are often treated “unjustly” by the IRS.
“As far as the U.S. is concerned, there are two principles at play,” he says. “First, one never leaves the land of the free for free. Second, everything in the U.S. is taxable.”
Darren and John discuss a wide range of issues – everything from potential troubles for Green Card holders to compliance matters when dealing with two countries that have very different tax regimes to immigration problems.
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