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December 1, 2008 - Phil Hodgen

Joint Committee on Taxation and the exit tax

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

Expatriation
November 30, 2008 - Phil Hodgen

Why the new expatriation tax is dumb

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

Expatriation
December 19, 2003 - Phil Hodgen

Getting an ITIN outside the U.S.

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.
Americans Living Abroad Expatriation Tax and Trusts
December 18, 2003 - Phil Hodgen

ITIN process tightened up

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.
Expatriation