Renunciation

Exit Tax When Renouncing US Citizenship

Exit Tax When Renouncing US Citizenship

Americans living abroad often face obstacles when opening foreign bank accounts (thanks, FATCA). Many also struggle with the hassle of US tax filings. Renunciation seems a logical solution. But, besides other potential drawbacks, covered expats may have to pay an exit...

Giving Up Your Green Card? Beware of Green Card Exit Tax

Giving Up Your Green Card? Beware of Green Card Exit Tax

Do you want to give up your US green card to exit the US tax system? Maybe you moved away and don’t need it anymore. But just letting it expire doesn’t end your permanent resident status, and you might still be liable for US taxes. Green card holders that are...