Is the Exit Tax Constitutional?

Is the Exit Tax Constitutional?

Tax Law
By Anthony Diosdi The United States taxes the worldwide income of U.S. citizens and residents, regardless of where they reside or are domiciled. This approach differs markedly from that of the vast majority of other countries that do not tax unrepatriated foreign earnings of citizens residing or domiciled abroad. Because the United States subjects its citizens and residents to income tax on their worldwide income, many U.S. citizens and residents are actively considering expatriating from the United States. For U.S. tax purposes, the concept of expatriation can be very complicated. If you are considering expatriating from the United States, here are eight things to consider:The Exit or Expatriation TaxSection 301 of the Heroes Earnings Assistance and Relief Tax Act of 2008 added Section 877A to the Internal Revenue Code. Section…
Read More