New Tax Law Enforcement


Plans to enforce a 2015 tax law must give us pause.

hadrians wall

Image from Hadrians-wall.org

There has been a lot of controversy about building the US southern border wall.  We’ll see what happens with that but here is a thought to chew on regarding the idea behind the wall.  Everyone is thinking that it is all about keeping people out of the USA.

This US wall is not a first.  Everyone knows about the Great Wall of China.  The majority of the existing wall is from the Ming Dynasty (1368–1644) so is about 650 years old.

Much older but less spectacular is Hadrian’s Wall.  The construction on some sections was so strong that they remain standing nearly 2000 years after they were built.

Both walls were built to help control import taxes and control the movements of people coming into or leaving a domain.  There is some conjecture that Hadrian’s Wall was built more to keep the citizens controlled by Rome in rather than keep the “Picts” out.

We know that the East Germans did not build this wall to keep the West German’s out!

berlin wall

Image from http://history1900s.about.com/od/coldwa1/a/berlinwall.htm

The purpose of a wall along America’s southern border, if built, should be some food for thought when you read this note from my friend and attorney, Leslie Share.  I have known Leslie about 30 years and trust what he says.

Leslie wrote: “In case your readers aren’t already aware of it, I have included below a link to the IRS website which may be of interest to them. It discusses a soon to be implemented law [IRC Section 7345(f)]  (1) that was enacted in late 2015 but has not yet been enforced. In essence, US citizens who owe more than $50,000 (indexed yearly for inflation) in federal taxes, interest and penalties who have already been through the IRS administrative process could have their passports revoked or their use limited to being able to return to the United States.

“In the current immigration environment, the enforcement of this law will only make things worse. Our immigration attorney just returned from a major seminar in Miami at which he spoke.  He mentioned, not surprisingly, that everyone there was immensely frustrated with the current state of immigration  procedures”.

LESLIE A. SHARE is a shareholder in Packman, Neuwahl & Rosenberg, P.A., specializing in the areas of domestic and international tax, estate and wealth preservation planning.  He has advised clients in such diverse areas as Broadway theatrical productions, domestic and foreign real estate like-kind exchanges, Internet sales tax planning, advanced domestic and foreign wealth preservation techniques, U.S. tax treaties, Internal Revenue Service examinations and voluntary compliance programs and preferred structures for inbound and outbound business and investment planning. Mr. Share has presented on these topics throughout the world and has written many articles for publications such as the Florida Bar Journal, Asset Protection Journal, Entertainment Law & Finance, Estate Planning, the University of Florida Law Review, and an American Bar Association book entitled Foreign Investment in U.S. Real Estate-A Comprehensive Guide, along with several times being recognized as an Florida Institute of CPAs Outstanding Discussion Leader. He is listed in Best Lawyers in America and Florida Super Lawyers in the field of Tax Law and is AV rated by Martindale-Hubbell. Mr. Share received his B.A. from Northwestern University, his J.D., with honors, from the University of Florida, and his Master of Laws in Taxation from New York University.

For more details and assistance Leslie Share:  email address is las@pnrlaw.com

When should we start to worry about this?  According to the IRS page… early 2017.

irs

(Note on the IRS Section 7345 tax page)

What can I say?  This leaves me sort of speechless so I’ll leave you with the lyrics from a great old  song sung by Bing Crosby and the Andrew Sisters

“Oh, give me land, lots of land under starry skies above – Don’t fence me in –  Let me ride through the wide open country that I love – Don’t fence me in – Let me be by myself in the evenin’ breeze – And listen to the murmur of the cottonwood trees – Send me off forever but I ask you please – Don’t fence me in”.

Gary

(1) www.irs.gov/businesses/small-businesses-self-employed/revocation-or-denial-of-passport-in-case-of-certain-unpaid-taxes


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