White House will take a financial loss to make it easier for Americans to walk away from citizenship starting in April
The Trump administration has agreed to take a financial loss in order to make it easier for Americans to walk away from their US citizenship.
In April, the cost to formally renounce citizenship will plunge from $2,350 to just $450, below the actual cost to the government of processing the requests – but fulfilling a years-long promise to reverse an unpopular fee adopted in 2015.
The number of people seeking a Certificate of Loss of Nationality (CLN) has soared in recent years, with 2024 recording the third highest annual total of 4,820, according to Internal Revenue Service (IRS) figures.
Analysts say political changes in the US are a driving factor in many cases – the start of Donald Trump’s first presidency in 2017 saw an immediate spike. But Americans overseas have also grown increasingly weary of complicated tax rules.
