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Old 23rd November 2015, 05:14 AM   #1
edward222
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Join Date: Nov 2014
Posts: 107
Default Could American Expats Lose Their Passports On January 1, 2016?

Credit to: Tax News : Could American expats lose their passports on January 1, 2016?

Quote:
Proposed measure would allow US to revoke passport if individual has over $50,000 unpaid taxes

The 8 million Americans living overseas should “ensure their financial affairs are in order and compliant” before the New Year, or face having their passports revoked, warns a financial advisory organisation.

The company – deVere Group, which has 80,000 mainly expatriate clients globally – said this after it was reported that the US Congress is preparing to bring in a law to take passports from Americans who owe tax. It is likely to pass into law in December and come into effect on January 1.

The measure, which is partly to raise funds for the proposed highway project, would allow the federal government to revoke a passport, or deny an application for one, if the individual concerned has more than $50,000 of unpaid federal taxes that the Internal Revenue Service (IRS) is seeking to collect.
This is bad for american expats.

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