Abogado Aly: Will 2015 Be a Record Year for Citizenship Renunciations?

Originally published by impuestosypatrick.

The First Quarter of 2015 saw a large number of published names of former U.S. citizens: 1,335 total for the first quarter.

In addition, the second quarter saw a total of 460, for a cumulative total for the year (mid way through the year of 1,795). At this pace, the year 2015 could be a slight record of U.S. citizenship renunciations compared to the record year of 2014.

See, New Record of U.S. Citizens Renouncing – The New Normal

The names of each citizen can be located in the list published in the Federal Register.

There are a number of key considerations and strategic decisions that most all U.S. citizens need to consider prior to renouncing citizenship. See, for instance –

U.S. Citizens Overseas who Wish to Renounce without a Social Security Number will Necessarily be a “Covered Expatriate”

The “Hidden Tax” of Expatriation – Section 2801 and its “Forever Taint.”