Tax implication on cashing out IRA for someone who has rescinded the citizenship and have turned 60.
smoothy
Jun 28, 2010, 10:39 AM
The tax implications are exactly the same regardless of your citizenship.
AtlantaTaxExpert
Jun 29, 2010, 10:35 AM
What Smoothy says is correct: your citizenship status has NO bearing on the tax liability incurred when you cash in your IRA, other than the fact that you should avoid any STATE income tax liability.