What the Blue Wave Means for US Expats
Democratic victories in the House and Senate have set up divided government for President Trump’s final two years in office. For Americans abroad, major tax legislation will become harder to enact…
Read MoreRenouncing US Citizenship
Renouncing U.S. citizenship: the exit tax, covered expatriate status, Form 8854 and relief for former citizens.
Renunciation Fee Cut to $450 – What Now for Expats
After years of anticipation, the State Department has finally cut the fee Americans must pay to renounce their U.S. citizenship to $450, down around 80% from its previous fee of $2,350.
Read MoreTaking a Treaty Position to Avoid the Exit Tax
In this blog, we discuss how green card holders who are considering abandoning their green cards can utilize the provisions of an income tax treaty to avoid the imposition of the potentially onerous…
Read MoreOur Approach to an Effective Renunciation
According to the latest Treasury Department figures, the number of people who expatriated from the U.S. jumped nearly 45% during the fourth quarter of 2023 compared with the previous quarter.
Read MoreRenunciation and the Risk of Double Taxation
For those considering renouncing their U.S. citizenship, the main potential tax concern is the so-called “exit tax,” which is a tax on the built-in appreciation in a covered expatriate’s property…
Read MoreThe Role of IRS Form 8854 in Renouncing US Citizenship
The recent upsurge in US citizenship renunciations has a number of possible causes. In some cases, the reasons may be political or personal. In other cases, renouncers no longer want to deal with…
Read MoreRelief Procedures for Certain Former Citizens
This past Friday, the IRS announced the opening of a brand new amnesty program aimed specifically at tax-delinquent US citizens who relinquished, or intend to relinquish, their U.S. citizenship, and…
Read MoreReflection on the Income Tax USA Regime
America’s Independence Day is here, so we’d like to begin this blog by wishing all the American taxpayers living abroad a happy and healthy July 4th.
Read MoreTax Consequences of Renouncing U.S. Citizenship
According to the latest Treasury Department figures, 2019 saw nearly 4,000 U.S. citizenship renunciations, which is slightly lower than recent years, but still quite high in the grander scheme of U.S…
Read MoreIRS Peek into Royal Family’s Affairs
When it comes to having personal family affairs break into the major media news cycle, there’s no family quite like the British royal family. In this regard, the world was abuzz this week with the…
Read MoreThe Dual Citizen Exception to the Exit Tax
According to Treasury Department numbers, 2016 broke the record for annual U.S. citizenship renunciations with a grand total of 5,411 renunciations. As we’ve noted previously, possible reasons for…
Read MoreRecord Amount of Citizenship Renunciations
The numbers are in from the Treasury Department, and 2016 easily broke the record for U.S. citizenship renunciations. 2016 saw a total of 5,411 renunciations, well above 2015’s previous record of…
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