Expatriates May File within the IRS Offshore Voluntary Disclosure Program & Streamlined Filing Compliance Procedures

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There is more to expatriating for U.S. federal tax purposes than relinquishing U.S. citizenship or a U.S. green card. It is necessary to comply with certain expatriation requirements in order to be cleared of any continuing U.S. federal tax reporting and payment obligations. The date of expatriation for U.S. federal tax purposes is the later of the date when the U.S. federal Form 8854 expatriation statement is first filed with the IRS or the date when the individual notifies the U.S. Department of State or the U.S. Department of Homeland Security of the expatriating act. A former …read more

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