By: Steven J Weil, PhD, EA, President RMS Accounting
Did you know that the IRS can have your U.S. passport revoked if you have delinquent tax debt of $52,000 or more? The Fixing America’s Surface Transportation Act (FAST -P.L. 114-94), enacted on 12/4/2015, gave the IRS the authority to have the passports of those with seriously delinquent tax debt revoked.
The good news is that if your address is up to date with the IRS, you should receive a letter notifying you of the IRS’s intent to request that the U.S. Department of State revoke your passport. That means that you won’t have to face finding that out when trying to reenter the country from a business trip or vacation.
To prevent the IRS from taking this action, you can pay the tax or (if this is not possible) enter into an installment agreement and make payments over time.
For more information see IRS Information Release IR-2019-141 or call us at 954-563-1269.