KPMG report: IRS steps up enforcement of the individual expatriation tax

Type
:
Obligation
Tax Area
:
Individual Income Tax
Status
:
Guidance
Qualification
:
Various
Implemented date
:
NA
Country
:
United States
Date added
1 Jul
,
2024
Docxster’s Summary

The article discusses the enforcement of the individual expatriation tax by the IRS, which is a tax imposed on individuals who renounce their US citizenship or give up their long-term residency. The report highlights the increase in enforcement efforts by the IRS and the potential consequences for individuals who fail to comply with the tax requirements. It also provides recommendations for individuals who are considering expatriation and the importance of seeking professional advice.

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Source :
KPMG
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