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General Information about "Covered Expatriate" Status There are three triggers that can cause you to be a covered expatriate. You only need one to be...

This post is a collection of questions and answers from Debra Rudd’s February 12, 2021 International Tax Lunch webinar on Asset Taxation During and After...

This post is a collection of questions and answers from Debra Rudd’s January 15, 2021 International Tax Lunch webinar on the Net Worth Test. The...

When you expatriate, you are required to declare all of your assets and liabilities and compute your net worth. If your net worth is above...

Covered expatriates are subject to exit tax. For most types of assets, a pretend sale applies, and the covered expatriate must pay tax on gains...

All covered expatriates must pay exit tax. The exit tax is computed differently depending on the type of asset. Over the last two months, I...

Recently the IRS announced that it will be rolling out a compliance initiative for expatriates. There is no information about how this program will work...

The exit tax applies to everything a covered expatriate owns. The method of calculating tax, however, differs depending on the asset involved. For most types...

Last month, I explained how to determine if you are a covered or non-covered expatriate. The major difference between covered and non-covered expatriates is that...

There are two types of expatriates: covered expatriates, and non-covered expatriates. Covered expatriates must pretend that they sold all their worldwide assets on the day...

Last month, I discussed how long-term residents can become expatriates. Now I will overview the tax paperwork expatriates will need to file. All individuals who...

Last month, I talked about citizens and how they can renounce their US citizenship. This month, I am focusing on another group of people who...

Last month, we covered a general overview of the exit tax, expatriation, and the distinction between covered and non-covered expatriates. We will now focus on...

Today’s topic: A quick overview of the exit tax The term “exit tax” is not used or defined in the Code or regulations anywhere. It...

This week we are talking about dual-status returns. An email reader sent us this question, asking what his income tax return should look like in...

The impact of treaty elections on long-term resident status and expatriation Over the course of two days last week, I received three questions about the...

Of the three tests that an expatriate must meet to be non-covered, the certification test is the most difficult to understand. It is also the...

Today’s topic: Do covered expatriates get to use their suspended passive activity losses? Let us imagine that you are planning to expatriate in 2018, and...

Filing deadline for expatriates is approaching We are just a few short days away from a very important date. If you expatriated during 2017, chances...

We often mention that covered expatriates, who are subject to a deemed sale of all their worldwide assets (with a few exceptions), are permitted to...