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Expatriation Uptick Despite Fee Increase

February 23, 2016 (1 min read)

Robert W. Wood, Forbes, Feb. 20, 2016 - "Ironically, America is collecting millions of dollars from the record numbers of Americans renouncing citizenship. It is odd that the U.S. is making millions from Americans tossing their passports. The government has collected about $12.6 million in fees just since the fall of 2014, after hiking its fee to renounce citizenship by 422%, according to CNNMoney. The fee to renounce is now $2,350. Even so, Americans are expatriating in record numbers. There are now 18 times as many renouncers as in 2008. Some write why they gave up their U.S. citizenship. In all, the number of Americans renouncing U.S. citizenship has gone up 560% from its Bush administration high. In 2015, there were approximately 4,300 expatriations according to the published names of individuals who renounced. The name and shame list is published quarterly, with the most recent three-month total being 1,058. That brings the total to 4,279 for 2015."