Nearly 1,800 Americans have in 2011 renounced their citizenships or turned in their so-called Alien Registration Cards to avoid sharing more information than necessary with the US government.
“Disclosing joint accounts I hold with my wife and anyone I ever want to do business with - that’s just too much,” said Peter Dunn, a dual US-Canadian citizen currently residing in Canada, quoted by Reuters on Monday.
Americans living and working abroad are, according to the Foreign Account Tax Compliance Act, not only forced to pay taxes to the Internal Revenue Service (IRS), the US agency responsible for collecting taxes, but also obligated to report all their bank accounts and retirement funds to the agency .... Read more at http://www.presstv.ir
