Paul L. Caron
Dean


Wednesday, August 1, 2018

The 2008-2016 Surge In The Number Of Americans Renouncing Their U.S. Citizenship Has Ended

International Tax Blog, 2018 Second Quarter Published Expatriates – A Total of 1,090:

Today the Treasury Department published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency (“expatriated”) during the second quarter of 2018.

The number of published expatriates for the quarter was 1,090. This number is almost the same as the number for the first quarter of 2018 (1,099 expatriates).  It seemed like there was exponential growth in the number of expatriates from 2008 until the end of 2016.  However, the numbers seem to be leveling off, or even dropping.

Mitchel

https://taxprof.typepad.com/taxprof_blog/2018/08/the-2008-2016-surge-in-the-number-of-americans-renouncing-their-us-citizenship-has-ended.html

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Comments

Are data avaiable re Expatriot?
How is done? Is it permanent? if not is it easy to undo? Do they surrender their passport? It seems a big nothing burger to me. Probably gives them a thrill to claim with no downside.

Posted by: Jerry M Delaney | Aug 2, 2018 3:05:57 AM

Jerry, giving up your citizenship puts you at a disadvantage relative to other aliens. Yes, you give up your citizenship and yes, you surrender your passport. I believe you're not allowed to reenter America for ten years afterwards.

Posted by: PaulB | Aug 2, 2018 7:15:43 PM

@Jerry Delaney: yes, they have to surrender their passport, and it is permanent. It's done by people living in other countries long-term, not by domestic celebrities for thrills or political protest. Wikipedia has an extensive article, including data going back to the 1960s:

https://en.wikipedia.org/wiki/Relinquishment_of_United_States_nationality

Posted by: Eric | Aug 2, 2018 8:31:15 PM

Why leave now? Rich people dont pay taxes anymore.

Posted by: Anon | Aug 3, 2018 6:45:10 AM