As this publication and others have recently noted, banks outside of the United States are sending FATCA letters, including form W-9, to their U.S. citizen banking clients. Here's what you need to know.
The processing fee to renounce U.S. citizenship went up 422 percent, according to a press release from the U.S. Embassy in San José on Wednesday. Starting on Sept. 12, the fee to renounce U.S. citizenship is increasing from $450 to $2,350. U.S. citizens living abroad have been giving up their passports in record numbers in recent years, and the State Department seems primed to make some money in the process.