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Unless you renounce your US citizenship.

In which case you need a Visa to travel to the US, and you lose the network of powerful embassies all over the world and so on. That's not the greatest deal.

When, if ever, does a normal person need access to a network of powerful embassies all over the world?

When travelling, if you get into any kind of troubles: from casual ones like «my wallet was stolen I don't have any papers now», to «corrupt cops are trying to racket me» or «I had a car accident and the locals want me to pay for everything because I'm rich».

All the examples above are things that happened to people of my family / close friend in the past few years, and the (French) embassy/consulate helped a lot each times.

Isn't there a several year lead time before your tax reporting requirements are no longer the case?

I believe your are still liable for the year you renounce. I am not an expert of any type in this area, to be clear.

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