More Americans renounced their citizenship and terminated their long-term residency in the first three months of the year than ever before, courtesy of the crackdown in foreign tax rules.
The upsurge subsided some in the second quarter but has been ongoing since the Treasury Department and the Internal Revenue Service began aggressively enforcing tax rules for American expatriates. The crackdown on the Foreign Bank Account Report is fresh, though the law has been in existence since 1970. Under the law, U.S. taxpayers are required to file if they held one or more foreign accounts totaling more than $10,000 over the course of a year.
http://www.cnbc.com/2015/09/11/expatriates-choosing-to-leave-the-us-rather-than-pay-taxes.html
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