Americans forfeiting citizenship at record pace


BLOOMBERG: Americans living abroad recently set the record for giving up citizenship.

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BLOOMBERG: Americans living abroad recently set the record for giving up citizenship.

The 1,335 expatriations topped the previous record by 18 percent, according to data compiled by Bloomberg. Those Americans are driven to turn in their passports in part because of laws that have expanded bank reporting and tax compliance requirements for expatriates.

The increase in early 2015 follows an annual record in 2014, when 3,415 Americans gave up their citizenship.

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