IRS Issues Ruling on Tax Filings for Same Sex Couples

tax filings for same sex couples

Yesterday the Internal Revenue Service issued an important ruling in the wake of the Windsor case in which the Supreme Court ruled that the Defense of Marriage Act was unconstitutional.  Specifically the IRS stated that it will recognize all same sex marriages regardless of where the couple was married.  The Supreme Court did not specifically address what would […]

Who exactly is a Covered Expatriate?

Covered Expatriate

In 2008, President Bush signed the Heroes Earnings Assistance and Relief Tax (HEART) Act. One of the major provisions of the Heart Act was to collect substantial taxes from certain United States taxpayers (whether a citizen or a permanent resident alien) who expatriated from the United States after June 16, 2008. The individuals that this […]

Income Tax Consequences of Expatriation

Income Tax Consequences of Expatriation

In this down economy, many companies are laying off employees. While this could be deeply troubling for those who get laid off, imagine if you were also subject to a huge income tax penalty as a result. This could be happening to you now if you are a permanent resident alien who decides to leave […]

‘Tis the Season to be a Snowbird

'Tis the Season to be a Snowbird

Ah, the weather outside is frightful.And Florida is so delightful.You’ve packed up your things to go…Let it snow, let it snow, let it snow. Seriously, weather aside, have you ever wondered why so many older wealthy people retire to Florida. Well, maybe this answer will help – a relatively affluent person can buy a second […]