Renouncing US Citizenship: A New Trend?

Tax liability for income earned overseas by Americans has been part of the US tax system since the federal income tax was first introduced in 1861. Since 2009, the United States has witnessed a rise in citizenship renunciation, especially among the affluent. Some see this as a barometer of the waning appeal of US citizenship, which has been and remains an aspirational goal for many around the world. However, it seems as though legislative and regulatory factors may be the more likely triggers for this new trend.  For further analysis, click here.

KJ