Why the ultra wealthy are renouncing their U.S. citizenship
Briefly

In 2014, Fabien Lehagre was shocked to receive a letter from his bank requesting his U.S. Social Security Number and accusing him of potential tax evasion.
Lehagre, an accidental American, discovered the burdens of citizenship-based taxation and founded the Association of Accidental Americans to advocate for tax reform.
Despite wanting to renounce his U.S. citizenship due to the associated pressures, Lehagre refuses to pay the exorbitant fee required to do so.
Every year, many Americans, including accidental ones, renounce their citizenship in frustration over U.S. tax regulations and the perceived aggressiveness of the IRS.
Read at Fortune
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