have fun
好玩
正文
give up green card easily! this seems like a joke but true.
a lot of high incomers left US to somewhere else like HK, China, Korea where income tax is much lower (HK high income people pay less then 20% in all taxes for example). people line up in US embassy to give up their permanent resident status so that they do not need to pay US federal tax. it was easy to give up green card a couple of years ago. Now IRS figured out that those people who give up green card are high tax payers and thus the US gov. makes giving up green card much harder. there is something called phase-out. you have to give up green card gradually and keep paying US tax during phase-out which could be quite long.
what an intestering thing!
a lot of high incomers left US to somewhere else like HK, China, Korea where income tax is much lower (HK high income people pay less then 20% in all taxes for example). people line up in US embassy to give up their permanent resident status so that they do not need to pay US federal tax. it was easy to give up green card a couple of years ago. Now IRS figured out that those people who give up green card are high tax payers and thus the US gov. makes giving up green card much harder. there is something called phase-out. you have to give up green card gradually and keep paying US tax during phase-out which could be quite long.
what an intestering thing!
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