fbpx

< Back to Thought Leadership

Your Individual Tax Debt Can Affect Your Passport

What does your individual tax debt have to do with a passport?

Before late 2015, mostly nothing at all. Passports are issued by the State Dept., not the IRS. However, in 2015, Congress passed and President Obama signed a law that requires the IRS to notify the State Dept. of taxpayers having “seriously delinquent tax debt”. Generally defined as tax debt exceeding $50,000 and for which a lien has been filed (for tax years beginning after Jan. 1, 2016). Unless exceptions apply, such tax debt is grounds for denial of a passport or revocation or limitation of an existing passport. Now, over two years later, the IRS has finally issued guidance for the implementation of this provision, in Notice 2018-1. Although they have yet begun to “certifying” tax debt to the State Department, they have indicated this is set to begin in January 2018.

According to the IRS, not all tax debts are included in the reporting process. FBAR penalties, current installment agreements, current offers-in-compromise, and more will be excluded.

 

Questions about how this might affect you? Contact your local Blue & Co. advisor.

 

Blue & Co.,LLC - Read more in our Hot Topic Archive! Click Here. Like what you read? Subscribe to our newsletter. Click Here.

 

How to Manage Clinical Validation Denials

In the past several years, hospitals have continued to feel the impact on revenue from Clinical Validation Denials (CVD). The need for a robust CDI team to capture support for clinical indicators while the patient is still in house is more imperative than ever. The other overwhelming piece for revenue cycle teams to manage is […]

Learn More

Margin Improvement: Optimizing Financial Performance

Ensuring the long-term financial viability of a health system requires constant attention to the operating statement. This involves assessing the current state of your healthcare organization and critically comparing the current condition to industry and/or internal benchmark standards. Ultimately, this assessment assists management implement an ongoing margin improvement process to increase the likelihood of achieving […]

Learn More

Blue Named One of Kentucky’s Best Places to Work

CARMEL, Ind. (May 3, 2023) – Blue & Co., LLC is honored to be named among the Best Places to Work in Kentucky by the Kentucky Chamber of Commerce, the Kentucky Society for Human Resource Management (KYSHRM) and ClearPath Mutual Insurance Company. This is the 12th year Blue & Co. has made the list as […]

Learn More