Well, if my dream last night has anything to do with reality, the world is in for a big shakeup. In my dream, President Trump came to me for US tax advice on expatriation - that is giving up one's US citizenship (or, green card in the case of long term residents). What a bizarre … Continue reading President Trump – Expatriating?
On July 19th, the Internal Revenue Service (IRS) through its Large Business and International (LB&I) Division announced six new “compliance campaigns” for taxpayers. Significantly, one of these campaigns targets “expatriation”, and apparently reaches back to those who “expatriated” on or after June 17, 2008. The campaign will be looking at “expatriates” – US citizens who … Continue reading Have you Expatriated or Thinking of Expatriating? IRS Now Looking Closely
People from countries all over the world apply for US permanent residency status, informally known as obtaining a “green card”. Nowadays, however, many US green card holders are questioning whether to continue holding the green card. The number of individuals who are renouncing their US citizenship or relinquishing their long term permanent resident status (this … Continue reading Giving up Your US Green Card – Make Sure It is Done Correctly or Pay the Price!