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The IRS Revives a 40% Expatriation Tax with Form 708
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Subscribe19 JAN 2026 / IRS UPDATES
The IRS has revived regulations within Section 2801 of the HEART Act of 2008, requiring U.S. persons who have received gifts or bequests from a 'covered expatriate' to pay a 40% tax. This is impacting globally mobile families, trusts, and unsuspecting inheritors who believed they were getting clean inheritances, and is enforced on transfers made from 1 January 2025.
For years, Section 2801 sat in the Code like an unplugged smoke detector. Everyone knew it existed. No one heard it chirp. Then, in January 2025, the IRS finalized regulations, and Form 708 finally landed. If you advise globally mobile families or si...
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