A record number of Americans gave up their US citizenship in the first quarter of 2015, according to IRS data. This is blamed on the taxation of income earned outside the US, along with laws expanding offshore bank account and asset reporting. A total of 1,335 people renounced US citizenship during the first three months of the year, topping the previous record by 18 percent, according to data compiled... 

The number of Americans who decided to renounce their citizenship in the second quarter of 2013 increased sixfold the same period in 2012, a number the federal government attributes to strict impending financial disclosure rules. The United States is the only country out of 34 in the Organization for Economic Co-operation and Development (OECD) that continues to tax citizens regardless of where they...