Is there an argument for renouncing your US citizenship as a tax-saving strategy? In the vast majority of cases, no; such a move would be impractical. But for a small number of US expats it might be worth considering.
US expats suffer from a number of tax-related disadvantages while living abroad. That said, rescinding US citizenship also means the loss of some significant advantages.
While the grass often appears greener on the other side of the fence, it's only after a switch has been made that the full picture becomes clear. What initially looked attractive might turn out to be the exact opposite - and with no way back.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.