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Article posted Jan 24 2012, 11:58 PM Category: Economy Source: AllGov Print

Tax Evaders Renounce U.S. Citizenship

Noel Brinkerhoff

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.

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Comments 1 - 2 of 2 Add Comment Page 1 of 1

Posted: Jan 25 2012, 11:15 AM

174252 Thats not because of taxes. That's because us americans are stupid as fuck. The smart people get up and leave.

Posted: Jan 25 2012, 9:39 PM

10842 @174252, No, the smart ones have figured out how to stay behind. The stupid people always run first; easy targets. Doesn't matter really, the Government has over extended itself, and credit only buys so much ammo.

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