The US taxes citizens regardless of where they are living when they make their money. Thus, if you decided to move back to Canada, you'd still have to file US tax returns until you die. Granted, you get to "write off" any money you pay to Canada, so you probably won't have to send the US a check, but you'll have to file a tax return every year. If you renounce US citizenship, then you're forever barred from entering the US again. This guy has lots of info on his website.
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Date: 2007-05-12 12:02 am (UTC)