If you owe back taxes there’s a good chance that you can lose your passport. Call us today for a free initial tax consultation.
Former IRS Agents and Managers who know the system!
Passed by Congress and signed into law allows the US Government to revoke the passports of seriously tax delinquents. The thresholds seem to be set at $50k plus
The new passport rule indicates the government wants to get serious about collecting unpaid tax debts.
The IRS reported 12.4 million delinquent accounts owing nearly $131 billion in assessed taxes, interest and penalties in 2014.
The passport-revoking provision allows the Department of the Treasury and the IRS to authorize the State Department to take away U.S. passports from individuals with seriously delinquent tax liabilities.
The State Department is now authorized:“to deny, revoke or limit use of a taxpayer’s U.S. passport, and it isn’t supposed to issue a passport to anyone owing that much money (with exceptions for emergencies or for humanitarian reasons)”
Americans however, out of the country when their passports are revoked may be allowed to return home.
FACT : The number of valid U.S. passports has surged in recent years, from roughly 30 million in 1995 to 126 million this year.
The bottom line, Congressional analysts expect the passport-revocation rule to raise about $400 million over the next 10 years.
Getting a simple payment agreement could allow your complete freedom of traveling back and forth without recourse. Call us today to learn more.
Owe Back Taxes + Lose Your Passport + Options to Help
