Thinking of Renouncing Your Citizenship? WATCH THIS First (Exit Tax Warning)

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The Clinton Donnelly Show

Clinton Donnelly

172 episodes

4 days ago

Welcome to The Clinton Donnelly Show, where Clinton shares real world strategies, time tested tactics, and expert discussions with influencers about cryptos, taxes, audits, and the regulatory framework that’s evolving around cryptos.

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Thinking of Renouncing Your Citizenship? WATCH THIS First (Exit Tax Warning)

The Clinton Donnelly Show

9 minutes 36 seconds

4 days ago

Thinking of Renouncing Your Citizenship? WATCH THIS First (Exit Tax Warning)

Renouncing your U.S. citizenship does not guarantee tax freedom, and for many people, it can create bigger tax problems than it solves.

In this video, Clinton Donnelly breaks down the real rules, including why the IRS can still pursue you for 10 years after renunciation, how Form 8854 works, and what the Exit Tax actually is.

🇺🇸 What You’ll Learn in This Video• Why U.S. citizens are taxed on worldwide income• Why moving to Dubai or Portugal doesn’t remove your IRS obligations• The one legitimate tax haven for Americans (Puerto Rico Act 60)• How the Exit Tax works when your net worth is $2M+• Why you need a second passport before renouncing• The 10-year IRS rule that caught Roger Ver• The risks of never being allowed back into the U.S. after renouncing• Why young Americans should think twice before giving up their passport

Clinton Donnelly, founder of CryptoTaxAudit, is one of the leading experts in IRS crypto audits, international tax strategy, and taxpayer defense.

📌 IRS Resources: • Form 8854 (Exit Tax) — Official IRS page👉 https://www.irs.gov/forms-pubs/about-form-8854• Foreign Tax Credit Information👉 https://www.irs.gov/individuals/international-taxpayers/foreign-tax-credit• Section 933 (Puerto Rico Sourced Income)👉 https://www.law.cornell.edu/uscode/text/26/933💼 Need Expert Help With International or Crypto Taxes?Book a call with our team:👉 https://www.cryptotaxaudit.com/crypto-tax-consultation

DisclaimerThis video is for educational and informational purposes only and does not constitute legal, tax, or financial advice.Tax laws and IRS procedures can change, and every situation is unique.You should consult with a qualified tax professional before taking any action based on this content.Watching this video does not create a client relationship with Clinton Donnelly or CryptoTaxAudit.For personalized guidance, visit:👉 https://www.cryptotaxaudit.com/crypto-tax-consultation RELATED SEARCH TERMS: renouncing us citizenship tax, exit tax explained, can you escape us taxes, us worldwide income rules, puerto rico act 60 taxes, crypto tax for americans abroad, form 8854 exit tax, zero tax countries for americans, move to dubai taxes us, irs crypto enforcement, us citizens foreign tax credit, crypto gains tax leaving country, irs expat rules, puerto rico crypto tax 2025, crypto tax loopholes 2025, act 60 residency rules