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. Continue reading

Americans Renouncing Citizenship Up 221%, All Aboard The FATCA Express

America is a great land and lures immigrants worldwide, yet record numbers of U.S. citizens and permanent residents are giving up their citizenship or residency. For all the immigrant arrivals the trickle the other direction is increasing. The number is still small, with the “published” expatriates for the quarter 630 for the last quarter of 2013.

That brings the total number to 2,999 for all of 2013. The previous record high for a year was 1,781 set in 2011. It’s a 221% increase over the 932 who left in 2012. You can call it a shaming or a public record, but the Treasury Department is required to publish a quarterly list of Americans who renounced their U.S. Citizenship or terminated their long-term U.S. residency. The public outing puts Americans on notice who relinquished their rights. Continue reading