Individuals who relinquish their U.S. citizenship may face federal tax consequences if they fail to comply with U.S. tax law.

setembro 13, 2019

Legenda da foto: COMPLIANCE word written by hand on blackboard

The IRS has announced new procedures to help certain expatriates come into compliance, and possibly be granted back tax relief. To be eligible, individuals must have given up their U.S. citizenship after March 18, 2010, and past noncompliance must have been “non-willful.” This applies only to those who haven’t filed U.S. tax returns as U.S. citizens or residents for relevant years; who owe limited U.S. back taxes; and have net assets of less than $2 million. For complete details, visit the IRS or https://bit.ly/2m39LCm,  or contact us with questions.