Lessons learned from filing requests for certificates of loss of nationality

By Eileen M. Martin ( October 28, 2024, 2:44 PM EDT) -- Americans wanting to get rid of U.S. citizenship has been a hot topic for the past 20 years or so. This is based on the IRS’s streamlined process that has allowed delinquent U.S. persons to catch up with required filings for the past few years without penalty, eliminating potential penalties for all years before that. It has been popular since many U.S. citizens living abroad do not know or are not concerned about their filing requirements. With age comes a concern about what one will leave behind, both in terms of assets and tax messes....