Tax Time Travel Ban: IRS Can Take Your Passport

As if tax time were not already stressful enough, you might have new worries if your debt to the IRS is growing. Since late 2015, the IRS has had the power to use passports to collect tax debts. H.R.22 added new section 7345 to an already bloated tax code. The new provision is titled “Revocation or Denial of Passport in Case of Certain Tax Delinquencies.” The IRS has recently implemented it too for seriously delinquent tax debts. That generally means more than $50,000. The IRS can’t take your passport exactly, but it can tell the State Department to do so.

Section 7345 of the tax code isn’t limited to criminal tax cases, or even cases where the IRS thinks you are trying to flee. Recently, the IRS released new details on its website. If you have seriously delinquent tax debt, IRS can notify the State Department in a formal certification. The State Department generally will not issue or renew a passport after receiving a certification from the IRS. The IRS website will be updated from time to time about such notices. With the arrival of new IRS rules, it is worth considering how you might hold onto your passport even if you owe the IRS.

Two Tax Truths and a Lie: Here’s What You Can and Can’t Get Away With

Most taxpayers will likely agree that the U.S. tax code is complicated and hard to understand. So, naturally, a few common tax myths have popped up over the years. And some of the most common myths revolve around tax deductions.

Some tax deductions that seem completely legitimate are actually fake, while others that seem unusual or even silly qualify for beneficial tax treatment. Here’s a look at tax myths and truths to help you claim the correct tax deductions.