March 26, 2014

US citizen living abroad. Concerned about increasing taxes

ACCORDINGLY, I AM CONSIDERING RELINQUISHING MY U.S. CITIZENSHIP (OR PERMANENT RESIDENT STATUS). IS THIS A GOOD IDEA? The decision to relinquish your U.S. Citizenship or Permanent […]
March 26, 2014

When is a Permanent U.S. Resident subject to the Exit Tax?

The so-called Exit Tax applies when a Permanent U.S. Resident decides to turn in his or her green card. More exactly, he or she must have […]
March 26, 2014

Can you avoid the Exit Tax prior to expatriating from U.S.

Possibly. It is often very difficult to entirely remove oneself from the U.S. tax system, but with proper exit planning the associated tax bite can be […]
March 26, 2014

What is the scope of the Exit Tax?

The Exit Tax includes both an income tax and an inheritance tax element. The income tax element consists of a deemed “mark‐to‐market” tax on the inherent […]
March 25, 2014

What is the exit tax?

For all taxpayers that expatriate after June 16, 2008, the new Internal Revenue Code §877A applies. IRC 877A imposes a mark-to-market regime, which generally means that […]