Tags: renounce | citizenship | america | usa

Americans Renouncing Citizenship Pacing at Record Level

Americans Renouncing Citizenship Pacing at Record Level
(AP Photo/John Locher)

By    |   Friday, 29 July 2016 12:10 PM

The number of Americans renouncing their citizenship in 2016 is pacing toward record levels for the second consecutive year, the Washington Examiner reported.

A total of 508 Americans renounced in the second quarter, bringing the overall number to 1,666 so far in 2016. At the same point last year, 1,795 Americans had renounced.

The Examiner adds that 2015 ended with 4,279 Americans renouncing, a record amount and a 560 percent increase over the highest amount ever recorded in the Bush administration.

The surging numbers of expatriates has been brought on partly by the Foreign Account Tax Compliance Act of 2010, "aimed at forcing nonresident citizens to report more of their income for tax collection," according to the Examiner.

© 2019 Newsmax. All rights reserved.

   
1Like our page
2Share
Newsfront
The number of Americans renouncing their citizenship in 2016 is pacing toward record levels for the second consecutive year, the Washington Examiner reported.
renounce, citizenship, america, usa
119
2016-10-29
Friday, 29 July 2016 12:10 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved