The U.S. overseas tax recovery caused dissatisfaction The number of people giving up their nationality and green cards hit a new high

The U.S.’s overseas tax pursuit caused dissatisfaction. The number of people who gave up their nationality and green cards hit a new high. Editor's note: Since the United States began to tax the overseas income of citizens or permanent residents, giving up the United States...

The U.S.'s overseas tax recovery has caused dissatisfaction, and the number of people who have given up their citizenship and green cards has reached a record high. Editor's note: Since the United States began to tax the overseas income of citizens or permanent residents, the number of people who have given up their U.S. citizenship or permanent resident status has skyrocketed. According to records from the Internal Revenue Service (IRS), nearly 1,800 people abandoned their U.S. citizenship or green cards last year alone, setting a record since the IRS began publishing this data in 1998. Those who have renounced their status believe that it is now too expensive to retain U.S. citizenship or a green card. The heavy tax burden in the United States is forcing Americans to renounce their nationality, which attracted attention last year after the cartoon hero "Superman" announced that he had renounced his American citizenship. Reuters reported that the number of people who renounced their nationality last year not only hit a new high, eight times that of 2008, but also the number of people who renounced their nationality in the three years from 2007 to 2009 combined. The United States is one of the few countries in the world that taxes its citizens’ foreign income. This year an estimated 6.3 million U.S. citizens living abroad will need to file foreign income taxes by the end of June. The National Taxpayer Advocate’s Office, affiliated with the Internal Revenue Service, released a report in December citing difficulties in filing taxes abroad, including cumbersome documentation, a lack of online filing tools and language barriers. For taxpayers who want to legally avoid filing taxes abroad, the only option is to renounce citizenship. IRS data shows that 1,788 people renounced their citizenship last year, but that number is likely an underestimate. The IRS regularly publishes the names of people who have renounced their citizenship in the Federal Register, and some people who have renounced their citizenship say they did not see their names in the Register. Over the past 25 years, many millionaires and billionaires have emigrated to the United States, including late Carnival Cruise founder Ted Arison and former Ford Motor Co. director Michael Dingman. But now even people who are not very wealthy are giving up their citizenship, and these people believe that giving up citizenship involves not only heavy tax burdens, but also opposition to American bureaucracy and privacy. Dunn, who swore off his U.S. citizenship on April 7, said that if he maintains his U.S. citizenship, he must file taxes and declare all his bank accounts, including the joint account opened with his wife. He said: "Revealing the joint account number of my wife and her partner is too much. My wife's bank account has nothing to do with the IRS." Dunn's wife is Canadian.