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Expatriation - DOS, USCIS Forms And Form 8854 Giving Up A Green Card (LTR) Or US Citizenship

  • Accountant
  • AFSP
  • CRTP
  • CGFM
  • CPA (US)
  • EA
  • ORTP
  • CPA/PFS
  • ChFC
  • MRTP
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CFIRS
  • CWS

Published: September, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • How to expatriate / Terminate US status?
    11 mins
  • Expatriation of minors and mentally challanged persons
    16 mins
  • DS-4080: Oath/Affirmation of renunciation of nationality of United States
    30 mins
  • Phone interview and statement of reasons for exptriation
    42 mins
  • Who must file? When? Form 8854: Initial and annual expatriation statement
    62 mins

Course Description

The USA is in turmoil with more and more US citizens looking at life abroad and considering giving up their citizenship. Some may become your clients.  Many of your clients are probably green card holders who wish to relinquish the card.  Hopefully, they can do so before they have held the card too long ("long term residents" or LTR). If the time has run out, the far more onerous US tax "expatriation" rules can hit LTRs, but you can assist nonetheless.

A new line of business awaits if you are prepared to explain the expatriation process, assist with the various Department of State forms, provide guidance to handle the State Department interview, to approach the written statement of reasons for expatriation and IRS tax form 8854.  Minors, mentally challenged persons and those for whom English is not a comfortable language will present special care in the process.

This CPE course provides all the information you need and is taught by Virginia La Torre Jeker, J.D. with the benefit of almost 40 years of international tax experience.

The steps for green card holders wishing to give up their US tax status are also covered, whether they are LTRs or are lucky enough to relinquish the green card before achieving LTR status.  Tax pros should be proactive with green card holder clients. Those with expired cards remain liable for paying US tax. In addition, those “expired” years count in determining if they have held the card long enough to be subject to the “expatriation” tax regime once the card is formally relinquished or administrative action is taken.

This CE/CPE webinar is a must-attend for tax professionals advising clients about the renunciation of the citizenship process or the process to properly relinquish a green card. It provides a step-by-step approach so that advisors will feel comfortable in guiding clients from A to Z. 

Expatriation matters are growing in importance as more and more individuals are divorcing from the United States. Don’t miss out on this expanding line of business. This CE course gives you what you need in a very understandable format.

Here are Links to your interest: IRS-Approved CE courses 

Learning Objectives

  • To analyze how “covered expatriate” (CE) status can creep up on your client and how being proactive can help them avoid it. 
  • To discuss step-by-step the Department of State / Department of Homeland Security (USCIS) forms required for expatriation, whether giving up US citizenship or giving up the green card. 
  • To inspect the special expatriation considerations, and how to manage them, for minors, mentally challenged individuals, or those not fully comfortable with English.
  • To identify how to coach your expatriating client for the Department of State interview and preparation of a written statement of reasons for expatriating. 
  • To discuss the Reed Amendment and possible ban on re-entry to the US; understand how the interview and statement can be approached to minimize client risk. 
  • To analyze Form 8854 – learn about this form required of expatriation clients and how to use it proactively to help clients avoid CE status.

Recommended For

  • This IRS-approved CE webinar is recommended for Tax partners, managers, and staff, CPAs, EA, AFSP, CRTP, MRTP, ORTP, CFIRS, CWS, tax return preparers, tax attorneys, and other tax practitioners who want to understand everything about the renunciation of citizenship process or the process to properly relinquish a green card.

Who Should Attend?

  • Bookkeepers & Accountants & Tax Preparers
  • California Registered Tax Professional
  • Certified Public Accountant (CPA)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Attorney
  • Tax Preparer
  • Tax Professionals
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1.5 General Credit of Taxes for Accountant/Bookkeeper/Tax Professionals
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 1 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-1033)
  • 1 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-01286-22-S)
  • 1 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-01286-22-S)
  • 1 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-01286-22-S)
  • 1.5 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 1.5 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 1.5 CPE Credit of Taxes for Chartered Financial Consultant (ChFC)
  • 1.5 CPE Credit of Taxes for Financial Services Certified Professional (FSCP)
  • 1.5 CPE Credit of Taxes for Chartered Advisor in Senior Living (CASL)
  • 1.5 CPE Credit of Taxes for Chartered Special Needs Consultant (ChSNC)
  • 1.5 CPE Credit of Taxes for Retirement Income Certified Professional (RICP)
  • 1.5 CPE Credit of Taxes for Wealth Management Certified Professional (WMCP)
  • 1.5 CE Credit of Taxes for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1.5 CE Credit of Taxes for Certified Wealth Strategist (CWS)
  • 1.5 CPE Credit of Taxes for Certified Government Financial Manager (CGFM)

Additional details

  • Course Level :
    Basic
  • Credits :
    1.5
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

With over 35 years of US tax and international experience, Virginia has been a member of the NYS Bar since 1984. Practicing US tax overseas since 1986, Virginia’s practice has focused on clients in Asia and the Middle East. She provides expert insight into tax planning and compliance for American expats and foreign persons having any US connections.

Virginia has an expertise in cross-border transactions and structuring, FATCA, regaining US tax compliance with previously unreported foreign income, assets or accounts, expatriation tax planning, and providing specialist advice for international families in numerous areas of US international tax. Working with tax and attorney colleagues across the globe, Virginia excels in solving cross-border and multi-jurisdictional tax matters and has developed a unique and sought-after specialty in analyzing the US tax consequences of transactions involving Sharia law and the use of UAE “foundations” in US tax planning.

Virginia’s tax advice is highly knowledgeable, reliable and solution-focused. Having assisted Asian and Middle Eastern families for decades, she appreciates the sensitive and special situations involved in multi-national families. Virginia has worked with international law and accounting firms (Deloitte), major banks (including HSBC), and trust companies. Early in her career she worked with the top-tier NY law firm, Willkie Farr & Gallagher.

Virginia is a Bloomberg tax author and an avid tax blogger for many years; her work is highly regarded and recognized internationally. Her Twitter Account @VLJeker has been listed in Forbes, Top 100 Must-Follow Tax Twitter Accounts and she is named by Bloomberg as a tax professional to follow on LinkedIn. Tax Notes International recognized Virginia as a preeminent US tax professional, profiling her international tax practice (here). Listen to a short podcast posted in Forbes to hear Virginia discuss how she established her tax practice abroad, the challenge of balancing family life with career, and recent international tax issues.

Virginia has been quoted in the New York Times, Newsweek and the Wall Street Journal and is regularly quoted in local news and publications. Virginia has a passion for US international tax and her contributions to the field are prolific: interviewed by CNN, local television appearances, regularly speaking at conferences and seminars, and publishing a vast array of scholarly works on US tax issues, some of which have been referenced by other attorneys or organizations both to the US courts and US Congress

Faq

FAQs content

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