Exit Tax Form 8854 Changes and Common Procedural Errors
In Part 1 of our series on the final Exit Tax regulations issued by the IRS on January 14, 2025, we looked at §2801 tax implications for US individuals who receive certain gifts or bequests (either directly or indirectly) from someone who has expatriated [...]
Risk and Recordkeeping Requirements for Form 708 Filing To Report Receipt of a Covered Gift or Bequest
In Part 1 of our series on the final Exit Tax regulations issued by the IRS on January 14, 2025, we looked at §2801 tax implications for US individuals who receive certain gifts or bequests (either directly or indirectly) from someone who has expatriated [...]
If You Expatriated from the US, Be Careful in Making Gifts to US Individuals
Individuals who gave up their US citizenship or long-term tax residency (or will do so) and are deemed to be covered expatriates subject to the US Exit Tax (or will be in the near future), should take great care when making gifts or bequests [...]
