The number of people who expatriated from the U.S. rose during the first quarter of 2022 compared with the previous quarter, the Internal Revenue Service said in a notice released Monday.
The number of people losing or renouncing their U.S. citizenship rose to 571 in January through March, from 488 in the final quarter of 2021, the IRS said in a list of those choosing to expatriate.
Expatriation Is The Term The IRS Employs For Loss Or Renunciation Of U.S. Citizenship Under Internal Revenue Code Section 877(A) And Section 877A, The Notice Said.
Expatriation has increased significantly in 2020.
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Read more at: Tax Times blog
