We've toyed with the idea of DH doing this since he is now a Canadian citizen. However, according to our tax accountant who specializes in cross-border taxation, it's not as simple as just renouncing DH's U.S. citizenship.
Apparently, the U.S. government is one step ahead of us and the U.S. can now, by law, impose a deemed "exit tax" on DH's worldwide assets. The U.S. government can also hit DH's U.S. and Canadian retirement and other tax-deferred plans with a 30% withholding tax at the time of expatriation.
I wonder why the article didn't mention this?
I can only be nice to one person today! Today is not your day...tomorrow doesn't look good either.