Renounce sooner! The Biden Victory suggests (1) more renunciants will be subject to the US exit tax and (2) the exit tax paid will be greater!

<p>November 8, 2020 - Participants Include:</p> <p> </p> <p>John Richardson - <a href='http://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p> </p> <p>Virginia La Torre Jeker - <a href='http://www.twitter.com/vljeker'>@VlJeker</a></p> <p>_______________________________________________________________________</p> <p> </p> <p>The election of Joe Biden coupled with Democrats control of the House is not good news for Americans abroad.</p> <p>There are good reasons for the demand to renounce US citizenship and abandon Green Cards to  increase.</p> <p>On November 8, 2020 I was joined by US tax lawyer Virginia La Torre Jeker to discuss the reasons for this. In general the reasons include that:</p> <p>1. More people will be <a href='http://citizenshipsolutions.ca/2015/04/03/part-3-the-exit-tax-affects-covered-expatriates-what-is-a-covered-expatriate/'>covered expatriates</a> and subject to the <a href='http://citizenshipsolutions.ca/2015/04/01/renouncing-us-citizenship-how-the-s-877a-exit-tax-may-apply-to-your-canadian-assets-5-parts/'>US 877A exit tax</a> regime.</p> <p>2. Those subject to the exit taxes will pay higher exit taxes!</p> <p>To be forewarned is to be forearmed! In general people do NOT leave the "Land Of The Free" for free.</p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p>