News / Article

More Americans Quit US Before FATCA Begins

Source: tax-news.com - Aug 11, 2014

According to Treasury Department statistics published in the Federal Register, a record number of 1,577 United States taxpayers gave up their passports or their green cards in the first half of this year, up from 576 in the first quarter. This is already a long way towards reaching the record level of 2,999 in the whole of 2013.

The Treasury is required by statute to publish a quarterly list including the name of each individual who has lost or renounced US citizenship during the period. For the purposes of this listing, long-term residents or green card holders are treated as if they were citizens of the US who lost citizenship.

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Category: IRS