Thursday, May 7, 2020
International Tax Blog, 2020 First Quarter Published Expatriates – Highest Quarterly Number Ever:
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 first quarter of 2020.
The number of published expatriates for the quarter was 2,909, which is the highest quarterly number ever.
The two quarters preceding the current quarter (the third and fourth quarters of 2019) had remarkably low numbers. The total number of published expatriates for the entire year of 2019 was only 2,072. The number for the current quarter is 40% higher than for the entire year of 2019.