U.S. renunciation: Tax and immigration considerations for prior year renouncers

By Oliver Branch, Gabriel Castillo and Kevin Kirkpatrick ( July 21, 2020, 3:20 PM EDT) -- While many individuals may see the process to renounce U.S. citizenship as being relatively straightforward — an interview at a U.S. embassy or consulate accompanied by payment of a fee — if not done properly it can create expensive tax penalties and cumbersome cross-border travel difficulties. Individuals who have renounced only to discover unexpected consequences are not uncommon....

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