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Abandonment of United States citizenship or long-term residency (by non-citizens) may trigger the United States Expatriation Tax. The Expatriation Tax consists of the Exit Tax and the Inheritance Tax. In Part 1 of our two-part series, we explain the Exit Tax. Tax Expatriation, General...

In addition to the Exit Tax, the HEART Act (Heroes Earnings Assistance and Relief Act of 2008) added a new federal transfer tax, which imposes an Inheritance Tax on certain gifts or bequests (testamentary dispositions) made by a "covered expatriate" to U.S. recipients. This is the secon...

This week, the FICPA Government Affairs Department wrapped up activities related to the last of the Florida Legislature’s interim committee meetings. The 2022 Legislative Session begins Jan. 11.   To date, more than 2,300 bills have been filed. FICPA Governmental Affairs continues to...