“After surveying 414 expat clients, 327 said they had ‘actively considered,’ ‘are thinking about,’ or ‘explored the options’ of renouncing their U.S. passport because of the new rules. Many cited problems opening and maintaining bank accounts in their new countries and disliked the costs and paperwork associated with compliance. ‘Some told us that they felt they were now under suspicion by the IRS, even though there was no question of any wrongdoing or having any taxes owing,’ Green said. U.S. Treasury Department data shows that passport relinquishments were up 220 percent in 2013 from the year earlier.”
http://www.ibtimes.com/irs-really-driving-americans-overseas-renounce-citizenship-1628644
Related posts:
Area 51 does exist and there were strange goings on admit CIA
‘Six Californias’ plan doable, could be on November ballot
Urban farming springs up on rooftops in hyper-crowded Hong Kong
Detroit McDonald’s Forced To Close Amid Protest For Higher Wages
Chinese farmer ‘privatizes’ part of Great Wall to develop new tourist attraction
Egypt death toll soars as Obama leads muted international condemnation
Swiss lawyer uses $500,000 painting for bail in US tax fraud case
Switzerland looks to liberalise cryptocurrency banking access
PayPal returns to market with $52 billion valuation
Coming: A "Medicare Tax" If You Sell Your Property
India: $1.2 million in gold bars found stashed in Boeing 737 bathroom
Thailand's ruling junta approves China rail links worth $23bn
Death toll rises in Egypt following clashes
Obama executive order expands Homeland Security reach into local law enforcement
Iceland Seen Threatened by Capital Flight From Its Own Citizens