Article Written for:  TaxStringer, the NYSSCPA's (New York Society of Certified Public Accountants) 

The Heart Act added a new federal Inheritance Tax on certain lifetime and testamentary dispositions to U.S. recipients, made by a “covered expatriate.” This is the second article in our two-part series on the expatriation tax.

Article Written for:  TaxStringer, the NYSSCPA's (New York Society of Certified Public Accountants) 

The U.S. imposes an Expatriation Tax on U.S. citizens who abandon citizenship and on or long-term U.S. residents (non-citizens) who surrender their green card. The expatriation tax consists of the Exit Tax and the Inheritance Tax.  This article explains the Exit Tax.