For Help Renouncing your citizenship visit: https://www.irsmedic.com/offhsore

Join us for an exclusive live event on the IRSMedic podcast where host and international tax attorney, Anthony E. Parent, Esq., sits down with John Richardson, an esteemed immigration attorney specializing in international tax issues, and Keith Redmond, a prominent advocate for U.S. expatriates worldwide. This in-depth discussion promises to shed light on the nuances of renouncing U.S. citizenship under the IRS’s “Relief Procedures for Certain Former Citizens.”

What to Expect:

1. Introduction to the Topic – Understanding why individuals might choose to renounce their U.S. citizenship and the legal and tax implications involved.
2. Eligibility Criteria – A detailed explanation of who qualifies for the IRS Relief Procedures:
3. Individuals who have relinquished their U.S. citizenship after March 18, 2010.
Those with no prior filing history as U.S. citizens or residents.
4. Expatriates whose average annual net income tax did not exceed the specified threshold over the five years prior to renunciation.
5. Those with a net worth under $2 million at the time of expatriation and application.
6. Taxpayers with an aggregate tax liability not exceeding $25,000 for the five years before and the year of expatriation.

The Process:
1. Documentation Required – What documents are needed to apply for the relief procedures?
2. Certificate of Loss of Nationality or court order canceling naturalization.
3. Valid passport or birth certificate with government-issued ID.
4. Dual-status tax returns for the year of expatriation.
5. Tax returns for the five preceding years.

• Non-Willfulness is NOT required: Unlike the Streamlined Process, there non-wilfulness is not required.

• Exit Tax: Understanding if you’re classified as a ‘covered expatriate’ and what that means for your assets.

• Future Tax Obligations: How renouncing affects your tax responsibilities post-exit.

• Legal Consequences: Beyond taxes, what are the implications on rights, travel, and estate planning?

Real-life Scenarios:
Case studies will be discussed to illustrate common scenarios expatriates face, providing practical insights into the application of these procedures.

Q&A Session:
The last segment will be dedicated to answering questions from viewers, providing personalized advice and clarity on complex issues.

Why Watch?

This live event is crucial for:
• U.S. Citizens Living Abroad considering renunciation due to the complexities of U.S. tax compliance.
• Tax Professionals looking to expand their knowledge on expatriation tax issues.
• Immigration Attorneys and advisors needing to understand the tax implications for their clients.
• Anyone Curious about the legal and financial aspects of becoming a former U.S. citizen.

Join Us Live:

Date & Time: December 4, 2024 at 7:30 AM EDT/13:30 CET
Location: Live on YouTube via the IRSMedic Channel

Engage with Us:
Submit Your Questions in advance by commenting on this video or tweeting with the hashtag .
Join the Conversation in real-time during the live chat.

About the Guests:

John Richardson has a profound understanding of international tax law, particularly how it affects U.S. citizens living abroad. His insights are invaluable for anyone navigating the complexities of expatriation.
Keith Redmond is a vocal advocate for U.S. expatriates, focusing on tax policy reform and the rights of Americans abroad. His practical experience in dealing with these issues provides a real-world perspective.

Subscribe and Notification: Make sure to subscribe to the IRSMedic YouTube channel and hit the notification bell to catch this live event as it happens. Don’t miss out on this opportunity to gain expert advice on a topic that affects millions of Americans around the globe.

Disclaimer: While this live event provides general information and educational content, it should not be considered as legal or tax advice. For specific advice, please consult with a professional qualified in your jurisdiction.

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