When you renounce your U.S. citizenship, it becomes an immigration process with a tax impact. If you qualify as a covered expatriate, you may be subject to pay an exit tax. This is on top of the $2,350 fee the U.S. government charges to relinquish your citizenship. These fees and taxes affect thousands of people. In this episode of Taking shelter, Peter Palsen is joined by John Richardson to discuss the U.S. Exit Tax.

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Resources:
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DISCLAIMER: This video is not legal, tax, or financial advice. Talk with a professional about your situation before making any legal or financial decisions.

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