Owe $50,000 or more to IRS, lose your American passport

There is pending legislation in the U.S. Senate, and U.S. House of Representatives, effective 01-01-2016, wherein the State Department would block Americans from receiving passports if owing more than $50,000 to the IRS.

THE WALL STREET JOURNAL on November 21, 2015, published an aritcle by Laura Saunders, titled:  "Nix Taxes, Lose Passport".

As with any pending legislation, the final provisions are not yet know.

The bottom line for 2016 for U.S. citizens owing more than $50,000, their current passports could be revoked, or new passports could be denied.

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