Record number of Americans renounce citizenship

According to IRS data published in the Federal Register on Monday, 1,426 Americans expatriated in the third quarter of 2015, bringing this year’s total to 3,221 so far. The figure is 25 percent higher than the same period last year, when 2,585 renounced their citizenship.

The federal government made money from the move. The administrative processing fee required from those who renounce citizenship increased from $450 to $2,350 last year, which means those who left paid the feds a record parting gift total of just over $7.5 million.

Full article: Record number of Americans renounce citizenship (Washington Examiner)

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