Tina Turner Citizenship Status Affects Her Taxes

Tina Turner has given up her U.S. citizenship voluntarily to be with her long time German executive husband, Erwin Bach. It is unlikely that she made the decision based on taxes but the U.S. tax system probably didn’t help. Turning in returns that claim foreign tax credits is not a synergetic process and can cause some tax mismatches. Moreover there are additional forms that have civil and criminal consequences for tax violations. Aditionally, the FATCA is continuing to mandate foreign banks divulge American accounts.

See Robert Wood, Tina Turner Gives Up U.S. Citizenship —Big FATCA Wheel Keep on Turnin’, Forbes, Nov. 13, 2013.