![\"US](\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\")
<\/a><\/p>\nThe Internal Revenue Service (IRS) is finalizing plans that will allow the federal government to revoke, deny, or limit a U.S. citizen’s passport if they owe more than $50,000 in “seriously delinquent tax debt. ”<\/p>\n
Lawmakers are in the final stages of negotiation over a bill to provide funding for U.S. highways and transit programs. One provision in that bill would let the federal government revoke, deny or limit a U.S. citizen’s passport.<\/p>\n
The $50,000 threshold includes any penalties and interest owed by the U.S. taxpayer.<\/p>\n
It would only apply to those people whom the IRS has filed a lien or levy against and who have not yet worked out a repayment plan to satisfy the debt.<\/p>\n
Exceptions will be made for person’s who are actively disputing their case or who needs to travel for emergency or humanitarian purposes.<\/p>\n
The provision is expected to pass next week and go into effect on January 1, 2016.<\/p>\n
Collecting on past-due tax payments in this manner is expected to raise nearly\u00a0$400 million over the next decade.<\/p>\n
The law is expected to most drastically affect more than 8 million Americans who live abroad and rely on their passports for travel.<\/p>\n
Those individuals could be reported through the\u00a0relatively new Foreign Account Tax Compliance Act (FATCA) — which requires other countries’ financial institutions to report back to the IRS on accounts held by U.S. taxpayers.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Internal Revenue Service (IRS) is finalizing plans that will allow the federal government to revoke, deny, or limit a U.S. citizen’s passport if they owe more than $50,000 in “seriously delinquent tax debt. ” Lawmakers are in the final stages of negotiation over a bill to provide funding for U.S. highways and transit […]<\/p>\n","protected":false},"author":33,"featured_media":59844,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1197,7845],"tags":[9078,9079,8396,9077,8544],"class_list":{"0":"post-59842","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"category-politics","9":"tag-passport","10":"tag-tax-payers","11":"tag-taxes","12":"tag-us-passport","13":"tag-us-taxes"},"acf":[],"wps_subtitle":"","_links":{"self":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/59842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/comments?post=59842"}],"version-history":[{"count":1,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/59842\/revisions"}],"predecessor-version":[{"id":77444,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/posts\/59842\/revisions\/77444"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media\/59844"}],"wp:attachment":[{"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/media?parent=59842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/categories?post=59842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businesspundit.com\/wp-json\/wp\/v2\/tags?post=59842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![\"US](\"https:\/\/www.businesspundit.com\/wp-content\/uploads\/2015\/11\/US-Passport-Revoked-Over-Taxes.jpg\")
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