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Desert Reckoning

Desert Reckoning

By Deanne Stillman

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Tag: Ex-patriot Act

Andrew Feinberg (CC BY 2.0)

Bill Takes Aim at Facebook Co-Founder’s Tax Scheme

Facebook co-founder Eduardo Saverin has renounced his American citizenship in a bid to avoid up to $67 million in taxes on the billions he’s expected to make when the company goes public. Democratic U.S. Sens. Chuck Schumer and Bob Casey have introduced a bill to punish such ex-citizens with heavy taxes and bar them from ever re-entering the U.S.

Posted on May 17, 2012 READ MORE

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