FATCA has Americans renouncing citizenship, tax lawyer says - News Summed Up

FATCA has Americans renouncing citizenship, tax lawyer says


A Calgary lawyer says an increasing number of Americans living abroad are renouncing their U.S. citizenship because of a recently passed tax law. Tax lawyer Roy Berg says since the Foreign Account Tax Compliance Act law was enacted a few years ago, the number of Americans living abroad who are giving up their U.S. citizenship has been going up. Roy Berg says last year about 3,000 Americans renounced their citizenship globally and that’s expected to jump to 4,000 this year. Berg says last year about 3,000 Americans renounced their citizenship globally and that's expected to jump to 4,000 this year. Tammy Adams says she has been thinking about giving up her U.S. citizenship for a while now.


Source: CBC News May 28, 2016 04:18 UTC



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