The IRS needs better enforcement of the tax rules imposed on those giving up or abandoning their U.S. citizen or resident status, said one report. A Treasury Inspector General for Tax Administration (TIGTA) audit found that from 2008 to 2018, the number of expatriates rose greatly. Yet the IRS didn’t have “a centralized compliance effort aimed at enforcing the expatriate rules.” Without enforcement, TIGTA added, “Congress’s attempts to create disincentives to expatriate” via the tax code won’t be effective. The IRS should ensure expatriates file a required annual form certifying compliance with U.S. tax law, fully report income and pay their exit tax. Here’s the audit: https://bit.ly/3mTLl8q Call or visit our website for more information! www.mjscpa.com/
