Did she “relinquish” or “renounce” U.S. citizenship? – Tina Turner –
There are important legal differences between “renouncing” and “relinquishing” U.S. citizenship. Specifically, the federal tax consequences that follow from one versus the other can be quite important. The principle point is the “timing” of when USC status terminates.
The federal tax reporting can be quite different for those who “relinquish” or “renounce” U.S. citizenship. For related background information see the following:
Certifying Under Penalty of Perjury – Meeting the Requirements of Title 26 for Preceding 5 Taxable Years
The dangers of becoming a “covered expatriate” by not complying with Section 877(a)(2)(C).
What could be the focal point of IRS Criminal Investigations of Former U.S. Citizens and Lawful Permanent Residents?
More posts to following regarding “relinquishing” or “renouncing” U.S. citizenship.