U.S. Citizens in Canada InfoShop

2014 Mar 8 – Hjelmgaard

 
Kim Hjelmgaard
Americans abroad find citizenship too taxing to keep
USA Today (8 Mar 2014)

http://www.usatoday.com/story/news/world/2014/03/08/usa-citizens-relinquish-passports-tax-filing/5859371/

Two extraterritorial US persons in Switzerland tell their stories. One has already renounced, and the other is considering that action. US citizenship renunciation totaled 3000 in 2013, a 221% rise from the preceding year. Two tax professionals describe the difficulties and costs of filing. “A poll conducted by the de Vere Group, a financial consultancy, late last year revealed that 68% of American expatriates have considered giving up their U.S. citizenship as a result of FATCA.”
 

Written by usxcanada

8 March 2014 at 6:00 am