Paul L. Caron
Dean


Thursday, May 7, 2020

Number Of Americans Renouncing Their U.S. Citizenship Hits All-Time High

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.

Expatriates

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.

https://taxprof.typepad.com/taxprof_blog/2020/05/number-of-americans-renouncing-their-us-citizenship-hits-all-time-high.html

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Comments

I suspect that most of those are long-term residents who have decided to move somewhere safer during the COVID-19 crisis.

Posted by: Ted Seto | May 7, 2020 12:56:57 PM

Wow, those Hollywood actors and actresses actually followed through???

Posted by: Anon | May 7, 2020 2:40:11 PM

America! Love it or leave it (please)

Posted by: Farkle | May 7, 2020 5:04:48 PM

This a really misleading title. This is not an all-time-high. This is just the IRS catching up with years of under-reporting. I know three people on this list and they renounced in 2018 and another 7 not on the list who renounced in 2019. This is still the fall-out of FATCA. After the Obama admin raised renunciation fees to an obscene level, the poorest had to "save up" for renunciation. That's disgusting. As far as Covid - well considering that the State Department shut down renunciations in March, that would be impossible. Also, it takes weeks to get an appointment at an embassy and then it takes months to receive a CLN and then more months to years before the reaching the 6039g list, well. This is like observing a far away star. We're seeing what happened eons ago.

Posted by: realTheresaMey | May 8, 2020 10:50:19 AM

From 2010 thru 2019, over 7,000,000 people became US Citizens. Who cares about the ~100,000 who left.

Posted by: Edward | May 11, 2020 8:29:33 PM

America, I love the clean water, air beautiful mountains and vistas but I DON'T LOVE THE GOVERNMENT, so when people like Farkle say "America! love it or leave it (please) don't think it's just the blacks and latinos that are running back to their respective countries, it is also many of us Europeans too. You can keep your unorganized and illegal IRS your stupid virtual signaling hate crime laws, over taxation without representation, all of it... More for you to enjoy and since there will be less of us the new surveillance state will be up your backside with a microscope. Enjoy!

Posted by: Kooky | May 13, 2020 12:32:06 PM