Paul L. Caron
Dean



Wednesday, October 28, 2020

Number Of Americans Renouncing Their U.S. Citizenship Has Already Hit All-Time Yearly High In 2020

International Tax Blog, 2020 Third Quarter Published Expatriates – 2020 Is Already the Highest Year 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 third quarter of 2020.

The number of published expatriates for the quarter was 732. The total number of names published during the 3 quarters so far this year equals 6,047. Even without including the fourth quarter, 2020 is already a record year for names published. 

Tax

Wall Street Journal, More Americans Are Renouncing Their Citizenship:

In the past decade, nearly 37,000 Americans expatriated, according to the Federal Register, the official journal of the federal government, which publishes the list of names quarterly.

But this year promises to set a record. ...

Or maybe not. It turns out the list isn’t always up-to-date. Of the 2,907 names published in the Federal Register for the first quarter of 2020, only three actually expatriated this year, according to the Internal Revenue Service, which compiles the list. Of the remainder, 941 expatriated in 2019, 441 in 2018, 736 in 2015 and 713 in 2014. An additional 76 were sprinkled across other years.

According to the IRS, the delays reflect when the agency receives information from the State Department, Department of Homeland Security or individual expatriates.

https://taxprof.typepad.com/taxprof_blog/2020/10/number-of-americans-renouncing-their-us-citizenship-has-already-hit-all-time-yearly-high-in-2020.html

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