The Treasury Department reported that 2,999 Americans renounced their U.S. citizenship in 2013, nearly double the previous record from 2011. Potential reasons for this rising trend include increased awareness of the obligation to file U.S. tax returns by citizens living outside the U.S., the rising burden of complying with U.S. tax laws, and fear of penalties for failing to file U.S. tax returns when holding substantial non-U.S. assets. Read the full article here.