The Uniited States tax laws are insane. Despite several attempts to try and wrap my head around it, I hit a brick wall every time. It seems like a design intended to indict people rather than make the process easier for them, you have to figure out what to do and when to do it, otherwise you'll face prosecution.
Let's see as more details unfold regarding this case.
- Jay -
i thought it was just a proposal still, they must have approved it on Sunday night session.
last news i heard it was 25% for unrealized gains so there it goes. it's official and Ver is the first to be set as an example. just look at how much effort he made to the extent of renouncing his U.S. citizenship but seems like he will be expatriates to pay.
not sure if he knows that he is required to report to the IRS even when he isn't a US citizen anymore. all the troubles seem nothing has changed. feel sorry for him. it's their law though.