COVID-19 Updates and Resources

Is now the time to renounce your US citizenship?

Make the right decision for you and your family.

Complimentary seminar series on the main topics of interest concerning the renunciation of your US citizenship. Learn how your decision to (or not to) renounce will impact you and your family today and in the future.

COVID-19: An update from Moodys Tax

While the global situation continues to evolve, we at Moodys Tax are committed to protecting the health and safety of everyone we interact with and following the guidance set out by governments and public health organizations. As a result, all previously scheduled seminars may now be held as webinars, allowing you to attend from home. Due to the rapidly changing nature of current events, decisions will be made on a month by month basis and all registered attendees will be notified if and when their seminar gets rescheduled as a webinar.

US Citizenship Renunciation

  • The United States is one of the only countries in the world to tax based on citizenship.

    If you’re a US citizen living outside the United States, you still have yearly IRS tax filing obligations. These tax filing obligations can be an expensive annual hassle (even if you owe no tax). They may even result in double taxation. Fortunately, properly renouncing your US citizenship can provide a way out.

  • Is Renouncing Your US Citizenship Right for You and Your Family?

    Renouncing your US citizenship is a very personal decision. If you’ve made a permanent home outside of the US and find the benefits of maintaining US citizenship no longer outweigh the costs, we can help. The process of renouncing one’s US citizenship is complex and can seem overwhelming. If not done correctly, the consequences can include the imposition of the US Exit Tax, a permanent ban on entering the US and burdening your heirs with the US inheritance tax in life and at your death. Our priority is to help you make an informed and educated decision. One that best suits your situation and your family’s needs.

Pros & Cons of Renouncing Your US Citizenship




  • PROS
    Elimination of double taxation (US tax + the tax in your home country)
    Elimination of reporting and filing obligations and associated costs
    Elimination of US gift tax regime and estate tax
    Insulation from US tax changes on expats
    Alleviate business sale taxes
  • CONS
    Loss of US citizenship privileges (voting in US elections, access to US job market, US passport, US residency, etc.)
    Loss of US Consular Services
    Renouncing your citizenship is a permanent decision
    One-time fee of $2350 to the US Government (plus applicable legal fees)
    - Need one more if possible -

Articles

FAQs

Our Approach

Our method involves a unique combination of Domestic and US tax law, Immigration Law, and Tax Compliance. Our team of US lawyers represent over 400+ US citizens to properly renounce their citizenship every year. They will help you assess if renouncing your US citizenship is right for you. If you decide to renounce, we work with you through every step to make sure the process is as smooth as possible, while avoiding the negative consequences of renouncing the wrong way.

Moodys Tax has represented more successful renunciation clients than any firm in the world. The benefits of renouncing your US citizenship using our professional legal guidance include:

  • Renounce the right way
  • No restrictions on US travel (not disbarred from the US under the Reed Amendment)
  • Proper planning to avoid costly taxes levied on renouncers (avoid the US exit tax and inheritance tax)
  • No loss of social security benefits or access to Medicare
  • Ease of travel into the US after renouncing as a visitor
  • Ability to work in the US after renouncing as a non-US citizen

International Reach

From Canada to Australia, New Zealand, the UAE, the UK, Singapore, and beyond. No matter where you live in the world, we can help. Our integrated team of US lawyers and Certified Public Accountants know the intricacies of the US legal and tax systems inside and out. We work with our global network of legal professionals to cover every circumstance unique to your current country of residency.

D 403.693.5114
M 403.693.5100
[email protected]

Alexander Marino JD, LLM (US TAX)

Director, US Tax Law | Co-Leader, US Tax Practice Group

Alexander Marino has years of experience in cross border tax law, estate planning, corporate tax, and US expatriation law. In addition to co-leading the US Tax Practice Group at Moodys, Alexander also heads the US renunciation practice, annually representing hundreds of clients worldwide in properly giving up their US citizenship or terminating their US green card status. He regularly speaks on the topic of US renunciation and expatriation in Canada and around the world as one of the foremost experts in this area of law.

Alexander is a member of the New Jersey State Bar, Pennsylvania State Bar, American Bar Association Tax Section, and the Society of Trust and Estate Practitioners.

After graduating from the University of Pittsburgh with a B.S. B.A. in Finance and Marketing in 2006, Alexander received his JD from Duquesne University School of Law in 2010 and an LLM in taxation from the University of Florida Levin College of Law in 2011.

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