Thousands Renounce U.S. Citizenship Hitting New Record High, IRS Confiscates Passports
United States Citizens: Pay Your Taxes–Or Lose Your Passport
Congress could approve a bill next month that would give the State Department the ability to revoke or deny passports for people who are behind on their taxes, the Wall Street Journal reported.
The measure would affect taxpayers who are “seriously delinquent” on $50,000 or more of taxes owed, meaning a lien or levy has been filed for the amount owed. People who are under a payment plan or otherwise working to resolve the debt would be excluded. So would people who are challenging their debts in court.
The change is tucked into a highway funding bill, H.R. 22 that is expected to pass. If enacted as is, the law would go into effect Jan. 1 and would apply to current debts.
Is It REALLY About Taxes?
Earlier this year Forbes magazine ran a story, Thousands Renounce U.S. Citizenship Hitting New Record, Not Just Over Taxes, could this be closer to the truth?
The February article showed a chart with a steep uptick of Americans giving up their U.S. citizenship in 2014 with a startling 221% increase from the previous year. In response to the startling figures the U.S. State Department increased the fee for renunciation from $450.00 to $2,350.00!
Now in an attempt to combat the ever increasing renunciation, the U.S. is confiscating passports stating, ‘it’s because of taxes.”
Forbes Magazine: http://www.forbes.com/sites/robertwood/2015/02/11/thousands-renounce-u-s-citizenship-hitting-new-record-not-just-over-taxes/
Wall Street Journal: United States Citizens: Pay Your Taxes–Or Lose Your Passport
http://www.wsj.com/articles/americans-pay-your-taxes-or-lose-your-passport-1447971424
Renunciation, It Is A Must! https://domoregooddeeds.wordpress.com/2015/04/13/renunciation-it-is-a-must/
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