Okay, we are back and very happy to have on the Goldstein on Gelt show a tax attorney with 35 years of experience in the field. He works with people all over the world and knows a great deal about cross-border investing, which is a very hot topic here on the Goldstein on Gelt show. I learned about Rob Wood by reading an article of his in Forbes. It is a real pleasure to have you. Thanks, nice to be here, Doug. So I'd like to go over some of these talk list issues that people ask when they are considering giving up their US citizenship because they live outside the United States and they no longer want to deal with it. Let's start with one of them. I know it's a myth or a fad, but you'll help us. Is it true that once you file for renunciation, you're still required to file US tax returns for ten more years? It actually isn't true. I should say, it isn't true any longer, unfortunately. This does give rise to lots of confusion. The US tax law on expatriation has changed multiple times over the last thirty years. There was a time, not long ago, as the rules changed in 2004, they changed again in 2008. But under current law, if you expatriate now, you do not need to keep filing US tax returns. However, it's important to say that if you still have US source income, even if you are an Israeli living in Israel or wherever you are and not having a US citizenship or a US green card, you still might have to file. Because if you have US source income, you would be filing a 1040NR, the non-resident return. But it isn't a sort of a tail,...
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