December 1, 2008 - Phil Hodgen
Just because you’ve been looking for them, here are the Joint Committee’s explanation of the law and the budget estimates for the exit tax passed earlier this year.
Joint Committee on Taxation Technical Explanation of the HEART Act of 2008
Joint Committee on Taxation Estimated Budget Effects of H.R. 6081
There’s a pop quiz on Friday. 🙂... continue reading
November 30, 2008 - Phil Hodgen
The TaxProf blog has a recent post about expatriation. The TaxProf refers to a recent academic paper on the topic, which you can download here.
It’s always interesting to see the academic perspective on something that I do, y’know, for money.
Expatriation is mostly estate tax driven
Giving up U.S. citizenship–when it is tax driven–is mostly about estate taxation. Given a choice between passing 100% or 55% of your assets to your kids, most people choose 100%.
Income tax isn’t such a problem, because in many cases the U.S. income tax rate is lower than the person’s home country.... continue reading
December 19, 2003 - Phil Hodgen
It's easy to say to a nonresident, "Go get an ITIN." But that's useless advice without specific help on exactly what to do.
December 18, 2003 - Phil Hodgen
The IRS announces today that it is tightening up the process for assigning Individual Taxpayer Identification Numbers to nonresidents. IRS announcement
here, and for discussion click inside.