More Americans renouncing citizenship to live overseas, taxes major factor

bbc.co.uk reported ….That’s not a concept that Americans contemplate lightly. But it’s one that many of them seem to be considering – and acting on. The number of expatriates renouncing their US citizenship surged in the second quarter of 2013, compared with the same period the year before – 1,131 cases to 189 in 2012. It’s still a small proportion of the estimated six million Americans abroad, but it’s a significant rise. The list is compiled by the Federal Register and while no reasons are given, the big looming factor seems to be tax. Read Article