An investigative unit of the Internal Revenue Service has said that it has located 79 "tax evasion fugitives" in Mexico, Belize, El Salvador, Guatemala and Honduras as part of what is described as the result of "the first year of a new extradition initiative," the Reuters news agency has reported.
News that the so-called Inflation Reduction Act has now been signed into law by President Biden has seen a burst of articles and website comments about what the additional US$80 billion in funding that it provides for the Internal Revenue Service could mean for Americans living abroad.
As this and other media organizations have been reporting for years, such expats are already struggling to deal with the myriad tax complications and expenses that go with living abroad as an American citizen, as a result of the combination of the U.S.'s citizenship-based tax regime, and such mostly-recent laws as the Foreign Account Tax Compliance Act. So the prospect of yet more IRS scrutiny has prompted many to worry...
In the early years of this century, a number of major media exposés reported how Homeland Americans, as well as rich people from other developed and developing countries, were making...
Mar-18-2023
