Form 8854 for Georgia 2024-2025

Form 8854 for Georgia: What You Should Know

IRS Form 8854 for Renouncing US Clients. Taxpayers may contact the tax return preparation office (TPA) of the foreign client when renouncing the citizenship of the client, or when the tax return for the foreign client has been filed. The preparation office may prepare the tax return and prepare the IRS Form 8854 and the instructions for Form 8854 before or at the time of the client's renunciation of US citizenship. The Tax Law Bulletin No. 24 (July 2010) provides further guidance about the role of this Form 8854, in providing an alternative to terminating one's citizenship. The Tax Law Bulletin was written with the assistance of Dr. Richard A. Friedman, a practicing tax attorney. Form 8854: Overview The general description of Form 8854 can be found in the IRS Regulations for Form 8854. The Form 8854 provides a means for the IRS to collect information from an American who has lost his or her US citizenship. The Form 8854 is the IRS's response if the taxpayer has filed a timely return and paid all taxes assessed. The taxpayer does not have to file a Form 8854 and the taxpayer can file an amended return, but does not have to pay any penalties or interest, and can postpone filing another return until the amended return is filed. The purpose of the Form 8854 is to inform the taxpayer that the taxpayer renounced his or her US citizenship. It requires the taxpayer to indicate which of the following applies for him or her: • the taxpayer is renouncing his or her citizenship because of his or her conviction of a qualifying criminal offense; • the taxpayer has relinquished the US citizenship of any spouse or children who are US citizens; • the taxpayer has abandoned the United States and abandoned US citizenship; • the taxpayer is renouncing his or her citizenship because of political preference; • the taxpayer is renouncing his or her US citizenship because he or she has renounced his or her citizenship of any former spouse or children who are US citizens. The general requirements for filing a Form 8854 include having to file the Form 8854 within 60 days of the date the taxpayer first became a reluctant or within two years before the time date or time of the taxpayer's last act as a reluctant, whichever is later; and, if the date of the taxpayer's last act is less than 62 days, the taxpayer had to file the Form 8854 no more than 60 days after that date.

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