The number of people renouncing U.S. citizenship is down so far this year, likely due to many embassies and consulates remaining closed because of the COVID-19 pandemic.
Only the U.S. and Eritrea, located in northeast Africa, tax people based on citizenship rather than residency.
The IRS publishes a quarterly list of the names of people who renounced their citizenship or surrendered their green cards.
The list only includes people with global assets more than $2 million, and The Wall Street Journal discovered the list wasn't up to date.
Axios said the number of people renouncing U.S. citizenship began to grow in 2010, when Congress passed the Foreign Account Tax Compliance Act, which increased reporting requirements and penalties for expatriates.
" One international tax lawyer specializing in helping Americans renounce U.S. citizenship said the next list only will contain relinquished green card holders, who can do it by mail.
"There are probably 20,000 or 30,000 people who want to do this, but they can't get the appointment," Poland's David Lesperance told Axios.
https://www.newsmax.com/us/wealthy-americans-renounce-citizenship/2021/08/05/id/1031248/
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