I.R.S. Releases Relief Procedures for Certain Expats While Warning Bells Ring for Others

Volume 6 No 9    |    Read Article

By Galia Antebi and Hannah Daniels

The I.R.S. recently announced new procedures that will enable certain individuals who have or will relinquish their citizenship after March 18, 2010, to come into compliance with related U.S. tax and filing obligations. As a first step, U.S. citizenship must be relinquished. Once that is completed, specified identification documents, a complete dual-status tax return for the year of expatriation, and tax returns for the five tax years preceding the expatriation must be submitted. Comparable provisions will apply for long-term residents who relinquish that status. Galia Antebi and Hannah Daniels, an extern at Ruchelman P.L.L.C. and student at New York Law School, explain.   See more →