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Record 5,411 Americans Renounced Their U.S. Citizenship in 2016

9th February 2017

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For the fourth year in a row, a record number of Americans and green-card holders renounced their U.S. citizenship or legal permanent residency in 2016, according to Treasury Department data slated for publication Thursday.

Taxes, and penalties for citizens abroad not paying taxes, are a key reason for the record levels of expatriations, according to Mitchel. The 2010 Foreign Account Tax Compliance Act, a statute intended to fight tax evasion by Americans with accounts abroad — Mitchel explained to The Daily Caller — has caused many American living outside the U.S. to escape the IRS’ grasp by leaving the system entirely.

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