Tax Evaders Renounce U.S. CitizenshipNoel Brinkerhoff
Jan. 24, 2012
Finland: Video Shows Fight Between Migrants & Locals, 15yo Finn Beat With 'Hard Object'
Video Shows African Flash Mob 'Flash Rob' Restaurant in Italy
WATCH: The Truth About the Syrian Boy Viral Photo
WATCH: Sudanese Muslim Refugee Shot After Beating Woman, Cop With Stick -- Media Ignores
UPI Poll: Trump and Clinton Virtually Tied
Rather than deal with the complexities of U.S. tax law, Americans living overseas are increasingly renouncing their citizenship in order to avoid paying their income taxes.
According to National Taxpayer Advocate Nina E. Olson, approximately 4,000 people gave up their citizenship from fiscal year 2005 to FY 2010. Renunciations increased sharply within the past three years, from 146 in FY 2008 to 1,534 in FY 2010. And during the first two quarters of FY 2011 alone, 1,024 Americans ditched their citizenship.