|
She and her boyfriend, Indiana State Trooper Scott, are on a dinner date. Tax attorneys state that compliance with the overseas trust and passive foreign investment firm rules can be significantly onerous, because their definitions are so broad as to include mutual funds, retirement accounts, and similar such constructions owned by accidental Americans of their country of residence; people with financial savings in these sorts of plans will face larger taxes and compliance burdens than U.S. 2014, that means that even accidental Americans who had been aware of their U.S. And even then, based on Treasury audit report from April 2022, the IRS does not have the assets to use FATCA knowledge to find or pursue accidental Americans who do not voluntarily enter the US tax system. Second, in keeping with a Treasury audit in 2020, over forty p.c of those renouncing US citizenship do not file Form 8854 to make a formal exit from the US tax system after expatriation, and the IRS lacks the sources to contact any of these former residents, even those who probably owed an exit tax. |
|