[Myrddin]

Since the U.S. taxes the money U.S. citizens make abroad, some rich people are renouncing their citizenship.

A recently passed law deals with those renouncing their citizenship. One day before it becomes effective, all your property is deemed "sold" and you owe a very large tax to the U.S. government based upon the "deemed" value of that sale.

[Wissa]

A recently passed law deals with those renouncing their citizenship. One day before it becomes effective, all your property is deemed "sold" and you owe a very large tax to the U.S. government based upon the "deemed" value of that sale.

I hadn't heard of that. Do you have a link to a source to back that up?