As the global landscape becomes more interconnected, the financial and political implications of renouncing U.S. citizenship or permanent resident status have taken on new significance. In recent years, growing economic pressures, changing tax laws, and the increasingly complex nature of international finance have prompted a rising number of Americans to consider expatriation or relinquishing their green cards. The political climate in the U.S. adds a layer of complexity to this decision. With this decision comes a lesser-known but critical financial reality—the U.S. Exit Tax.

Navigate tax season smoothly with our guide to the 2025 tax deadlines. Stay ahead and avoid unnecessary penalties.

Welcome to the first article in our series on mergers and acquisitions (M&A). At Basswood Counsel, we aim to explain the M&A process in a straightforward and practical manner for business owners, boards, and executives.