More Americans Drop Citizenship Over Taxes
By Neal Colgrass, Newser Staff
It's April again: time to add up receipts, find little-known tax breaks, and, in some cases, renounce U.S. citizenship altogether.
In fact, a record number of Americans abroad renounced their citizenship last year as complaints increased about IRS rules, Reuters reports.
One rule forces all Americans to file forms for foreign accounts containing at least $10,000. Another, newer rule stipulates that financial institutions must cough up information on U.S. clients to the IRS.
| More from Newser
'iPad Mini' Coming for Less Than $300
13 Stars With Major Tax Issues
America's Weirdest State Taxes
--Written by Neal Colgrass of Newser
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV