Has the passage of ObamaCare made you think about leaving the country? Has the 2017 TCJA changes on international reporting, pushed you over the edge? Or maybe you are a naturalized U.S. citizen or permanent resident who has prospered here, but would now like to move back the old country for retirement? Whatever your motives, just…
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TCJA 2017 Just Another Reasons to Expatriate?
On May 8, 2017, we posted Is it Time to Expatriate? Your Neighbors Are, where we discussed that the Treasury Department published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency “Expatriated” during the fourth quarter of 2016. The number of published expatriates for the quarter was 2,365, bringing the total number of published…
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According to TIGTA – The IRS Systematically Loses and Destroys Important Taxpayer Records
According to a report (TIGTA Report) dated July 13 2017, by the Treasury Inspector General for Tax Administration (TIGTA), the Internal Revenue Service (IRS) systematically loses and destroys important taxpayer records due to carelessness and negligence. 1 Freedom of Information Act Responses Were Found Lacking. Even when taxpayers request files from the IRS under the Freedom…
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New Amendments to Swiss-US Tax Treaty Enter Into Force on Sept. 20
On July 31, 2019 we posted Senate OKs Tax Treaties With Spain, Japan, Switzerland & Luxembourg, where we discussed that the U.S. Senate on July 17, 2019 approved three bilateral tax treaties with Switzerland, Luxembourg and Japan, one day after approving a treaty with Spain.Now according to Law360, amendments to the U.S.-Switzerland tax treaty providing for mandatory arbitration of double-tax…
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