More Americans Renounce Citizenship Over Taxes

Monday, 26 Apr 2010 09:57 AM
By: Forrest Jones

More and more Americans living overseas are renouncing their U.S. citizenship due to tax and banking considerations.

While the number is relatively small, about 502 of the total 5.2 million Americans living abroad saying "See Ya" to their passports during the last quarter of 2009, it was the largest quarterly figure in years and more than twice the total for all 2008, the New York Times reports.

“What we have seen is a substantial change in mentality among the overseas community in the past two years,â€