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Previous years were paper forms, if I recall correctly. I haven't filed yet this year.
Yeah, even to have a 3rd party do it is online only as well. That's what makes it more expensive.
And I imagine it depends on your assets..how much and which kind.
I haven't read the linked article, but I once read elsewhere that it's mostlly wealthy Americans who are renouncing their citizenship. If you earn over $93,000 a year (or so) you have to file taxes both abroad and with the IRS, and that's why they are giving up the citizenship.
The number is still small but it's growing and each quarter and each year brings a new record high.
First quarter of 2015 1336 Americans gave up their citizenship. The US raised the price of doing that from $450 to $2350 but that did not stop the flow.
My cousin is one of those 1336. She filed the papers and is no longer an American citizen.
She never worked in the US. Went to Europe at 16 and attended schools there (military move).
Went to college there and started working there and decided to stay.
Dual citizenship allowed her to do that.
The strict IRS rules though caused problems for her living and working in Europe.
Her bank closed out her accounts for one. And the paperwork she has to file is a nightmare so she pays to have it done. And she's never earned a dime of money in the US.
3415 Americans gave up their citizenship last year while 450,000 (average) immigrants (legal and illegal) entered the US.
Record Number of Americans Renounced Their U.S. Citizenship in 2015
Between January and March of 2015, a record 1,336 Americans renounced their U.S. citizenship, according to a quarterly report by the Internal Revenue Service (IRS) that was published in The Federal Register.
..
The record number of American natives who have renounced their U.S. citizenship is in sharp contrast to the much larger rise in immigrants coming to America.
Since more people are coming to American than leaving, it must still be a pretty desirable place to live..
In all fairness and in all honesty, I think you should always remember, "grass is always greener on the other side."
Choosing a country you like the most and call that country home is not a crime. But remember this, American citizenship is still considered a privilege by many people in the world, there is a reason for that.
I have relatives all over Europe. (mostly in Germany) I also have couple senior relatives in Japan. I love both regions and wouldn't mind living in Germany or Japan. But I think as long as you try your best saving a lot of money, America is STILL the best country for finally secure individuals, especially when you retire.
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More Americans giving up their citizenship in 2015
