GOP Blames FATCA For Record Numbers Ditching Citizenship

Law360, New York (February 12, 2014, 1:39 PM EST) -- A record of nearly 3,000 Americans gave up their citizenship last year, according to a new report in the Federal Register, amid Republican cries that the Foreign Account Tax Compliance Act reporting requirements are to blame.

The exodus, which is more than double the number of citizens who left in 2012, includes more than 600 Americans who left during the last quarter of 2013, according to an Internal Revenue Service publication in Friday’s Federal Register. The news came on the heels of the Republican National Committee's...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.