You may be leaving the United States, but you cannot relinquish your tax liabilities. In an effort to discourage US citizens from renouncing citizenship for tax avoidance purposes, the Internal Revenue Service imposes upon expatriates a tax known as the expatriation tax, or exit tax. It doesn’t matter if you’re a US expatriate living in Lebanon, Greece, Singapore, Switzerland, or anywhere else in the world – you must comply with exit tax requirements if you wish to avoid penalization. (more…)