Can Form 8854 Renunciation 2023-2024

The number of Americans who renounce their citizenship has hit a record high at 2999 citizens, which is actually a 221 percent increase from last year's numbers. So, the question is why? Why are Americans deciding to say goodbye to America, the land of the free and the brave? Many conservative outlets have reported that it's taxes. Taxes are evil and the Obama administration is taxing us so much that we're losing our American citizens. But taxes are only a part of the picture. Complex or costly taxes can help sway a decision but are often only one factor. Although statistics are not available for why people say a final goodbye, many now find America's global income tax compliance and disclosure laws inconvenient and nettlesome. So, it's not necessarily that we're being taxed more or that taxes are changing, it's just that the enforcement of it is becoming much stricter than what we're expected to see in government with foreign policy. Also, people are now much more aware of this so a lot of expats that were outside of the country weren't even aware that they had to file taxes, for example. The other factor here that's contributing to this exodus of renouncing citizenship is that international banks, especially, are facing more pressure to report what citizens have money in their banks, especially if they have more than 50 grand at the end of the year. So, American citizens outside of the US are being taxed within the country they're living in as well as with the US. So, they're being double taxed. These 3,000 people who are renouncing their citizenship, the indication is they don't currently live in the United States, is that what you're saying? That's pretty much it. They're retirees or expats that live overseas or work...