IRS offers tax break to some American expats

Pedro Gonçalves
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IRS offers tax break to some American expats

The Internal Revenue Service (IRS) has outlined new procedures for some "accidental Americans,", giving them the chance to comply with their US tax and filing obligations and in turn qualify for relief from back taxes, penalties and interest. The changes would allow people with less than $2m in net worth and less than $25,000 in taxes due over the prior six years to avoid paying those US taxes, the WSJ reports. The Relief Procedures for Certain Former Citizens will apply only to individual...

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