CNBC Quotes Scott Michel: Tough Tax Rules See Expats Ditch Their U.S. Passports

CNBC quoted Scott D. Michel concerning American expatriates relinquishing their U.S. citizenship due to burdensome U.S. tax filing requirements. For the complete article, please visit CNBC's website.

Excerpt taken from the article.

"We probably get two or three calls a day from people saying they want to relinquish citizenship. That would have much rarer six or seven years ago, maybe once every couple of months," Scott Michel, the president of tax law specialist Caplin & Drysdale, told CNBC.

Michel was one of several lawyers and financial advisers across the U.S., Europe and Asia who told CNBC that more Americans were requesting advice on expatriating.