The Foreign Account Tax Compliance Act (FATCA) has increased scrutiny on the tax affairs of US citizens living outside the US
What advice have you provided to clients considering giving up their US citizenship?
Most clients with US citizenship had never declared and so we used the streamlined process to get them back on track and report their income tax declarations to US authorities.
To date none of the dozens we have worked with had any interest in renouncing citizenship, as it is of great importance for Lebanese to maintain double citizenship status for travel purposes when the Lebanese passport can only be used to travel freely without a visa to a select few countries.