Are Americans fleeing due to taxes? August listing of 1,130 expatriates highest quarterly number everSubmitted by Barracuda_Trader on Fri, 09/06/2013 - 00:53
Increase in expatriates
Each quarter the Federal Register publishes the names of individuals who are surrendering their U.S. passports. More than 1,100 people are on the list published in August.
As with the State Department data, the Federal Register does not list why the people no longer want to be U.S. citizens.
But the dramatic increase in expatriates this last quarter and the impending FATCA rules are hard to ignore.
Andrew Mitchel, an international tax attorney in Centerbrook, Conn., has been tracking expatriation data for several years. The August listing of 1,130 expatriates, says Mitchel, is the highest quarterly published number ever.
The total of expatriates through the first half of 2013 is 1,809, says Mitchel, making this year tops in the number of published expatriates. The previous year-long total was 1,781 in 2011, according to Mitchel.