Record number of Americans renounce US citizenship

For the second consecutive year, a record number of individuals gave up their U.S. citizenship or long-term residency in 2014, according to Treasury Department data released Tuesday.

Figures show that 3,415 individuals renounced their U.S. citizenship or long-term residency in 2014.

That amounts to a 14 percent increase from the 2,999 who did so the previous year, according to Andrew Mitchel, a Connecticut-based attorney who tracks the quarterly figures on his International Tax Blog.

The Treasury Department list, to be published in the Federal Register on Wednesday, includes only names. It does not distinguish those giving up passports versus green cards, nor does it indicate why the individuals renounced their citizenship.