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Re: The Expat Tax Is Law - The Door Is Now Closed!
At 05:11 AM 9/17/96 -0700, Tim May wrote:
>It makes me want to just put my stock certificates in my luggage and just
>drive on down to Mexico and cross the border (no border checks) and go
>from there to some safer haven.
>(However, I imagine the Feds can effectively block sales of my stock--the
>stock is still formally only an accounting entry, as stock certificates
>are not "bearer instruments." I could probably relocate to a foreign haven
>and sell the assets before the IRS would even notice...unless they
>computerize. I suspect this is coming.)
But since a 10-year old (who is willing to break the law) can defeat their
expat tax, what difference does it make. All one has to do is cash out,
transfer all funds overseas, follow them, and renounce. Move the funds
around a little. It's not tax fraud (no false documents have been uttered
-- indeed no documents at all). Just take your marbles and go home.