IRS Drops Form 708: 40% Tax, Gifts & Bequests, “Covered Expatriates”

The Internal Revenue Service has released the final version of Form 708, titled “United States Return of Tax for Gifts and Bequests Received from Covered Expatriates,” (revision dated December 2025) along with detailed draft instructions (revision dated December 2025). As of today’s publication, the accompanying instructions remain in draft form available only as a draft … Continue reading IRS Drops Form 708: 40% Tax, Gifts & Bequests, “Covered Expatriates” →

Receiving U.S. Social Security Abroad: Understand SSA Country List 1

For many Americans, relinquishing U.S. citizenship or green-card status offers an exit from U.S. tax and filing obligations. I have previously written about the harsh tax consequences on Social Security for those who give up U.S. status. Many individuals who are contemplating giving up their U.S. citizenship or relinquishing a green card focus on the possibility of having to … Continue reading Receiving U.S. Social Security Abroad: Understand SSA Country List 1 →

Exclusive Citizenship Act: Unintended Consequences Continue To Emerge

I have previously written how changes to U.S. citizenship and expatriation rules often produce consequences far beyond what legislators appear to anticipate. Whether in the tax arena or in the administration of federal benefits, citizenship status functions as a foundational legal concept, not a standalone policy. Senator Moreno’s proposed “Exclusive Citizenship Act” underscores this point. … Continue reading Exclusive Citizenship Act: Unintended Consequences Continue To Emerge →

Moreno’s Fast-Track Citizenship Bill: Tax & Social Security Bombs, Diplomatic Chaos & More

One email from a tribal member sparked today’s article. A Native American reader of my recent Forbes piece on Senator Bernie Moreno’s Exclusive Citizenship Act of 2025 wrote in with a simple, powerful question: “How would this affect us?” In fewer than 10 words, that message prompted me to dig much deeper. What follows is … Continue reading Moreno’s Fast-Track Citizenship Bill: Tax & Social Security Bombs, Diplomatic Chaos & More →

Offshore Crypto: IRS Steps Closer To Automatic Reporting Under OECD CARF

The United States along with over 70 other countries has adhered to the Joint Statement on the OECD’s Crypto-Asset Reporting Framework, “CARF”. CARF is the digital-asset counterpart to the Common Reporting Standard “CRS” that has exchanged bank and securities account data among signatory countries (now well over 100 countries). The United States has formally indicated … Continue reading Offshore Crypto: IRS Steps Closer To Automatic Reporting Under OECD CARF →

Senator Bernie Moreno Introduces Bill To Eliminate Dual Citizenship

On December 1, 2025, Senator Bernie Moreno (R-OH) introduced the Exclusive Citizenship Act of 2025. The bill would prohibit any person from simultaneously holding U.S. citizenship and citizenship of another country. The major provisions include: An effective date 180 days after enactment. The requirement that existing dual citizens would have one year to renounce all … Continue reading Senator Bernie Moreno Introduces Bill To Eliminate Dual Citizenship →

Global Assets, U.S. Persons: Cross-Border Tax Planning Mandatory

In her recent Forbes article “Foreign Trusts – How Structure Can Prevent a Million-Dollar Penalty,” Priya Royal emphasizes a core maxim of cross-border tax planning: whenever U.S. persons are part of the “clan,” heightened vigilance is required. The same principle holds true when U.S. situs assets are involved in foreign families or their structures. Global … Continue reading Global Assets, U.S. Persons: Cross-Border Tax Planning Mandatory →

Unregistered U.S. Citizenship: Hidden Risks For American Born Abroad

Each year, thousands of children are born overseas to one U.S. citizen parent and one non-U.S. parent. Under U.S. immigration law, many of these children are U.S. citizens from birth, provided the American parent satisfies a relatively simple test: at least five years of physical presence in the United States, with two of those years … Continue reading Unregistered U.S. Citizenship: Hidden Risks For American Born Abroad →

Forms W-8BEN and W-9: Which to Use, When, and Why Many Get It Wrong

It is crucial to understand the differences between Form W-8BEN and Form W-9 when receiving payments from U.S. sources. This is especially so if the taxpayer operates, invests, or maintains financial accounts overseas. Many taxpayers get this wrong, often to their detriment. This article provides the guidance needed to understand which form is required and … Continue reading Forms W-8BEN and W-9: Which to Use, When, and Why Many Get It Wrong →

Born Abroad, American by Law: Should You Register Your Child?

Many children born overseas to a U.S. parent are U.S. citizens from birth. This is so even if the parents never registered the birth at a U.S. Consulate or Embassy, or applied for a U.S. passport for the child. Some parents view this as a way to keep the child outside the U.S. tax system, … Continue reading Born Abroad, American by Law: Should You Register Your Child? →