>Look like there is a surge in people giving up their US citizenship because of taxation issues and the fact European bank won't touch US citizens due to the hazard of being prosecuted in the US. Where ,as we saw with BP, courts really like to hammer foreign companies.
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>http://www.bbc.co.uk/news/35383435
>
>OK - so it appears that the law changed in 2012. It also appears that it doesn't affect anyone earning less than 76,000 pounds - not like to be a problem for Victor...

I've heard of the $106,000 limit before - which really isn't a huge amount of money. . I do know that the feds have become a LOT more serious about enforcing these tax laws in recent years, and a lot of people are just giving up and turning in their passports and giving up their USA citizenship.