I have a question with regards to the Tax Collection Responsibility Act of 2007, H.R. 3056.
I realize that this act was proposed in 2007..and being unfamiliar with the legislative procedures in the U.S., is there a possibility that this new proposal could come into effect for 2013?
The reason I am asking is that my reliquishment is most likely going to be pushed to next year due to Consulate scheduling...and as it stands now, under the current legislation, my calculations show me free and clear of the U.S. exit tax as I am not a covered expat.
If this above legislation were to come into effect in 2013, I would easily become 'covered' as this proposal has anyone 'leaving' the United States paying 30% above 600k...essentially eliminating the 2mil net worth clause.
If someone bases there decision on the current rules and regulations, and then these regulations change...is there a chance one could get 'double dutch doorknob'd' on something like this?
H.R.3056
Moderator: Mark T Serbinski CA CPA
Maybe I am asking the wrong question....
As far as I can read, this HR 3056 was passed in 2007 (?) but also consists of a number of items other than the expatriation tax issue.
I am thinking that this bill (if they call it that in the US) was modified before ratification? as the definitions of a 'covered expat' remains the same.
As far as I can read, this HR 3056 was passed in 2007 (?) but also consists of a number of items other than the expatriation tax issue.
I am thinking that this bill (if they call it that in the US) was modified before ratification? as the definitions of a 'covered expat' remains the same.