Friday's approval by the House of Representatives of the Inflation Reduction Act had been expected, but this was scant reassurance to many expatriate Americans who, after years of dealing with the taxation complexities that go with living abroad as a result of such laws as the Foreign Account Tax Compliance Act, are wondering if the additional millions of fresh money that the act sets aside for the IRS will mean even more headaches for them. 

A 90-minute webinar for tax professionals, covering a range of some of the most complex topics U.S. expats currently face – including the way the IRS audits Americans abroad, the so-called Section 965 Transition Tax, the "exit tax" paid by wealthy Americans who are seeking to renounce, and other related subjects – will take place this Thursday, beginning at 1pm Eastern Daylight Savings Time (6pm British Summer Time, 7pm Central European Summer Time). 

The number of Americans who formally gave up their U.S. citizenships during the second quarter of 2022 was the fifth-highest ever, based on the latest quarterly list of names published in the Federal Register.

According to this list, some 1,473 Americans gave up their U.S. citizenship in the second three months of this year, more than twice as many as in the first quarter, and the most since the second quarter of 2020, when 2,406 names were published (see tables, above and below).