Can the IRS Exit Tax be retroactive? Does IRC Section 877A go back in time?
Understanding the IRS Exit Tax: An Overview The IRS Exit Tax, primarily governed by IRC Section 877A, applies to certain individuals who formally expatriate from the United States by renouncing their U.S. citizenship or ending their status as long-term residents. This tax provision targets individuals deemed “covered expatriates” based on specific criteria, including income thresholds, […]
Can the IRS Exit Tax be retroactive? Does IRC Section 877A go back in time? Read More »