Bidding farewell to US citizenship: Understanding the exit tax
Learn about the U.S. exit tax under Sec. 877A, who it applies to, how it’s calculated, and strategies to mitigate its impact for expatriates. Renouncing U.S. citizenship or terminating long-term permanent residency is a significant decision with far-reaching financial and legal consequences. Among these, the U.S. exit tax, enacted under Section 877A of the Internal…