Facebook Faceoff

Forfeiting U.S. Citizenship is the Hip New Way to Dodge Taxes on Your Post-IPO Dough

Mr. Saverin (therichest.org)

If you’re a dual citizen, and you think the U.S. helps itself to far too large a chunk of your hard-earned cash, here’s a new lesson from Facebook cofounder Eduardo Saverin: renounce your citizenship, and you, too, can avoid a hefty tax bill.

Bloomberg reports that Mr. Saverin, a Brazilian-born resident of Singapore, has decided to forfeit his U.S. citizenship days before Facebook’s IPO, in “a move that may reduce his tax bill.” They pulled the information from a list published by the Internal Revenue Service that names people who have decided to renounce their citizenship as of April 30th. Read More

Don't Call It a Comeback

No Emo! LiveJournal Starts Deleting Some Inactive Accounts Before Its American Comeback Tour

Oh No They Didn't and its disconcertingly clean new interface.

Break out the “Bright Eyes,” over-sharers! LiveJournal, the no. 1 blogging platform of choice for navel-gazers in the early aughts is sending out notices this week that, “LiveJournal is planning to start deleting inactive empty accounts.” A reader who received the email yesterday sent us a copy, but from theĀ  chatter on the site, it seems they’re not the only one.

Don’t dig a digital grave next to your Friendster testimonials and MySpace spam just yet, however. The purge, which LiveJournal has instituted at various times before, looks to be part of a recent attempt to win back American hearts and minds. Read More