- Federal Taxes
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- U.S. Citizens and Permanent Residents Living Abroad
- Expatriation
- Foreign Tax Credit
- Foreign Currency Transactions
- Inbound Transactions
- Foreign Persons and U.S. Investments
- Transfer Pricing
- Tax Preparation
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Tax Controversy Services
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- Levy and Lien
- Audits
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- Filing of Delinquent Tax Returns
- Employment Tax issues and the Trust Fund Recover Penalty
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- Appeals and Collection Due Process Hearings
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International Tax
Individual
Expatriation is the process of relinquishing U.S. citizenship or permanent resident status. Before the expatriation can be completed, a number of legal and political issues must be resolved through U.S. Embassies and Consulates. Once those matters are resolved you must also satisfy the requirements established by the Internal Revenue Service before expatriation can be achieved.
After meeting with either a consul or embassy representative to discuss the repercussions of relinquishing citizenship, such as not having already established citizenship in another country, which would limit travel, IRS requirements must be fulfilled. In addition to being current in your tax filings, you are obligated to file Form 8854. The requirement is the same for U.S. citizens and permanent residents. It should be noted that once you become an expatriate, you will be treated differently for tax purposes. Pre-expatriation planning is vital to ensure that you are taking every tax advantage prior to completion of the process. In addition, tax filing for the year of expatriation is extremely complex and requires the knowledge of a tax professional highly experienced in the matters of expatriation.
The complexities of expatriation can be overwhelming, but Esquire Group has the expertise to guide you through this cumbersome process and to make certain that you are not met with any post-expatriation complications.
