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IRS exit taxes done correctly: How to expatriate properly from the US

As a US person, there is only one way to avoid US taxation. By no longer being a US person. The process to renounce your citizenship or surrender a Green Card is the easy part. Filing the correct certification, Form 8854, is just part of it. The hard part, is the tax part.

 

 

In order to no longer be a US person for tax purposes there are a myriad of steps you have to go through. Otherwise, you run the risk of the IRS not recognizing your expatriation — and then they can assess you taxes and penalties. These taxes and penalties can be collectible in the country you reside, thanks to mutual enforcement agreements.

 

The IRS exit tax rules are complicated, and full of hidden traps. Yet ultimately, they are also full of opportunity for those with creativity and flexibility.

 

Contact us to learn:

  • How to avoid being a covered expatriate
  • How to reduce your exit tax bill, if you can’t avoid it entirely
  • Special rules Green Card holders can take advantage of
  • How to make sure there is nothing that could blow back to ensure that your renunciation is a done deal.

 

The benefits of working with Parent & Parent LLP:

  • Attorney-client privilege attaches to all communications with anyone in the firm

  • CPAs and tax lawyers all under one roof

  • Returns double-reviewed by tax lawyers

  • In-house tax preparation

  • Flat-fees

  • Success with aggressive tax strategies

  • Highest level of security allowed by law

  •  

We help US taxpayers around the nation and around the globe.

 

These are the most popular countries, after the US, that our clients come from. Click on the flag of the country of interest to learn the most common issues we encounter, and the strategies we use to solve them. 

 

  Australia

 

Canada

 

China

 

Switzerland

 

Germany

 

France

 

The U.K.

 

Hong Kong

 

Israel

 

India

 

Japan

 

Taiwan

 


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