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

📺 Timestamps
00:00 Why people ask about renouncing
00:55 Worldwide income rules
01:20 Dubai & Portugal myths
02:10 How the Foreign Tax Credit prevents double tax
02:35 Portugal crypto taxation
03:00 Puerto Rico Act 60 explained
03:35 Zero-gain rules & requirements
04:45 Why renouncing citizenship is complicated
05:15 Why you need a second passport
05:50 What you cannot say at the consulate
06:15 Exit Tax explained
07:00 How the 10-year IRS rule works
07:45 Citizenship benefits you lose
08:30 Rosie O’Donnell case
09:10 Why young people should think twice
09:50 Final advice: PR vs renouncing

#CryptoTaxes #IRSTaxHelp #RenouncingCitizenship #PuertRicoAct60 #ExitTax #ClintonDonnelly #CryptoTaxAudit

Disclaimer
This 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

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