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December 2014 Archives

Comptroller v. Wynne: An Important Case for Maryland Residents

As technology improves and travel becomes easier, it is not uncommon for individuals to live and work in different states. Although federal tax on your income is the same whether or not you work and live in the same state, have you considered the state tax implications of working in a different state from which you reside?

Collection Due Process and Taxpayer Rights

Earlier this year, the IRS adopted a newly formulated Taxpayer Bill of Rights. The rights themselves - such as the right to be informed and the right to challenge the IRS's position and be heard - were not new. What was new was the way that the rights were formulated, in a way that was modeled after the Bill of Rights to the U.S. Constitution.

Expatriation and the "Exit Tax"

It is no surprise that some Americans who reside abroad are giving up their U.S. citizenship in light of the IRS' stricter enforcement of offshore income tax and bank account reporting compliance. For those who have resided abroad and have no intention of residing in the United States in the future, expatriation may be a good option. Due to potential tax implications, a U.S. person should make the following considerations before expatriating. This includes the potential for an "exit tax" for "covered expatriates."

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