Source: http://taxtv.com/code/00610-USCODE-2011-title26-subtitleA-chap1-subchapN-partII-subpartA-sec877/
Timestamp: 2017-11-20 17:30:17
Document Index: 366090023

Matched Legal Cases: ['§877', '§877', '§103', '§2005', '§1906', '§421', '§104', '§1243', '§521', '§1401', '§1', '§1602', '§804', '§403', '§301', '§301', '§1602', '§1602', '§1602', '§1602', '§1602', '§1602', '§1602', '§1', '§1', '§1', '§1', '§1', '§1', '§1', '§1', '§804']

IRC §877. Expatriation to avoid tax - TaxTV.com
IRC §877. Expatriation to avoid tax
(iii) was not present in the United States for more than 30 days during any calendar year which is 1 of the 10 calendar years preceding the individual’s loss of United States citizenship.
(C) the individual’s loss of United States citizenship occurs before such individual attains age 18½, and
(D) the individual was not present in the United States for more than 30 days during any calendar year which is 1 of the 10 calendar years preceding the individual’s loss of United States citizenship.
For purposes of determining whether this section applies to any gain on the sale or exchange of any property, the running of the 10-year period described in subsection (a) and the period applicable under paragraph (2) shall be suspended for any period during which the individual’s risk of loss with respect to the property is substantially diminished by—
(i) such corporation would be a controlled foreign corporation (as defined in 1 957), and
(ii) such individual would be a United States shareholder (as defined in section 9 (b)) with respect to such corporation.
If the Secretary establishes that it is reasonable to believe that an individual’s loss of United States citizenship would, but for this section, result in a substantial reduction for the taxable year in the taxes on his probable income for such year, the burden of proving for such taxable year that such loss of citizenship did not have for one of its principal purposes the avoidance of taxes under this subtitle or subtitle B shall be on such individual.
(II) if such individual is married, such individual’s spouse was born, or
(III) either of such individual’s parents were born, and
(Added Pub. L. 89–809, title I, §103(f)(1), Nov. 13, 1966, 80 Stat. 15 ; amended Pub. L. 93–406, title II, §2005(c)(8), Sept. 2, 1974, 88 Stat. 992; Pub. L. 94–455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 95–600, title IV, §421(e)(5), Nov. 6, 1978, 92 Stat. 2876; Pub. L. 96–222, title I, §104(a)(1), (4)(H)(v), Apr. 1, 1980, 94 Stat. 214, 217; Pub. L. 99– 4, title XII, §1243(a), Oct. 22, 1986, 100 Stat. 2580; Pub. L. 102–318, title V, §521(b)(31), July 3, 1992, 106 Stat. 312; Pub. L. 104–188, title I, §1401(b)(11), Aug. 20, 1996, 110 Stat. 1789; Pub. L. 104–191, title V, §1(a)–(d), (f)(1), Aug. 21, 1996, 110 Stat. 2093–2098; Pub. L. 105–34, title XVI, §1602(g)(1)–(4), (h)(3), Aug. 5, 1997, 111 Stat. 1095, 1096; Pub. L. 108–357, title VIII, §804(a)(1), (2), (c), Oct. 22, 2004, 118 Stat. 1569, 1570; Pub. L. 109–135, title IV, §403(v)(1), Dec. 21, 2005, 119 Stat. 2628; Pub. L. 110–245, title III, §301(c)(2)(A), (d), June 17, 2008, 122 Stat. 1646.)
2008—Subsec. (e)(1). Pub. L. 110–245, §301(c)(2)(A), amended par. (1) generally. Prior to amendment, text read as follows: “Any long-term resident of the United States who—
“(A) ceases to be a lawful permanent resident of the United States (within the meaning of section 7701(b)(6)), or
2005—Subsec. (g)(2)(C). Pub. L. 109–135 substituted “section 7701(b)(3)(D)” for “section 7701(b)(3)(D)(ii)”.
1997—Subsec. (d)(2)(B). Pub. L. 105–34, §1602(g)(1), substituted “the 10-year period beginning on the date the individual loses United States citizenship” for “the 10-year period described in subsection (a)” in introductory provisions.
Subsec. (d)(2)(D). Pub. L. 105–34, §1602(g)(2), inserted at end “In the case of any exchange occurring during such 5 years, any gain recognized under this subparagraph shall be recognized immediately after such loss of citizenship.”
Subsec. (d)(3). Pub. L. 105–34, §1602(g)(3), inserted “and the period applicable under paragraph (2)” after “subsection (a)” in introductory provisions.
Subsec. (d)(4)(A). Pub. L. 105–34, §1602(g)(4)(C), struck out “during the 10-year period referred to in subsection (a),” before “any income or gain” in concluding provisions.
Subsec. (d)(4)(A)(i). Pub. L. 105–34, §1602(g)(4)(A), inserted “during the 10-year period beginning on the date the individual loses United States citizenship” after “contributes property”.
Subsec. (d)(4)(A)(ii). Pub. L. 105–34, §1602(g)(4)(B), inserted “immediately before such contribution” after “from such property”.
Subsec. (e)(1). Pub. L. 105–34, §1602(h)(3), substituted “6039G” for “6039F” in concluding provisions.
1996—Subsec. (a). Pub. L. 104–191, §1(a), amended subsec. (a) generally. Prior to amendment, subsec. (a) read as follows:
Subsec. (a)(1). Pub. L. 104–191, §1(d)(2), inserted “(after any reduction in such tax under the last sentence of such subsection)” after “such subsection”.
Subsec. (b). Pub. L. 104–191, §1(d)(1), inserted at end “The tax imposed solely by reason of this section shall be reduced (but not below zero) by the amount of any income, war profits, and excess profits taxes (within the meaning of section 903) paid to any foreign country or possession of the United States on any income of the taxpayer on which tax is imposed solely by reason of this section.”
Pub. L. 104–188 substituted “section 1 or 55” for “section 1, 55, or 402(d)(1)”.
Subsec. (b)(1). Pub. L. 104–191, §1(b)(2), substituted “subsection (d)” for “subsection (c)”.
Subsec. (c). Pub. L. 104–191, §1(b)(1), added subsec. (c). Former subsec. (c) redesignated (d).
Subsec. (d). Pub. L. 104–191, §1(c), amended subsec. (d) generally. Prior to amendment, subsec. (d) read as follows:
Pub. L. 104–191, §1(b)(1), redesignated subsec. (c) as (d) and struck out former subsec. (d) which read as follows:
“(d) Exception for Loss of Citizenship for Certain Causes.—Subsection (a) shall not apply to a nonresident alien individual whose loss of United States citizenship resulted from the application of section 301(b), 350, or 355 of the Immigration and Nationality Act, as amended (8 U.S.C. 1401(b), 1482, or 1487).”
Subsecs. (e), (f). Pub. L. 104–191, §1(f)(1), added subsec. (e) and redesignated former subsec. (e) as (f).
1992—Subsec. (b). Pub. L. 102–318 substituted “402(d)(1)” for “402(e)(1)”.
1986—Subsec. (c). Pub. L. 99– 4 inserted at end “For purposes of this section, gain on the sale or exchange of property which has a basis determined in whole or in part by reference to property described in paragraph (1) or (2) shall be treated as gain described in paragraph (1) or (2).”
1980—Subsec. (b). Pub. L. 96–222 substituted “55, or 402(e)(1)” for “section 55, 402(e)(1), or section 1201(b)”.
1978—Subsec. (b). Pub. L. 95–600 substituted “section 1, section 55,” for “section 1”.
1976—Subsecs. (b)(2), (e). Pub. L. 94–455 struck out “or his delegate” after “Secretary”.
Pub. L. 108–357, title VIII, §804(f), Oct. 22, 2004, 118 Stat. 1573, provided that: “The amendments made by this section [amending this section and sections 2107, 2501, 6039G, and 7701 of this title] shall apply to individuals who expatriate after June 3, 2004.”
Section 1(g) of Pub. L. 104–191 provided that:
“(A) In general.—In the case of an individual who performed an act of expatriation specified in paragraph (1), (2), (3), or (4) of section 349(a) of the Immigration and Nationality Act (8 U.S.C. 1481(a)(1)–(4)) before February 6, 1995, but who did not, on or before such date, furnish to the United States Department of State a signed statement of voluntary relinquishment of United States nationality confirming the performance of such act, the amendments made by this section and section 2 [enacting section 6039F of this title] shall apply to such individual except that the 10-year period described in section 877(a) of such Code shall not expire before the end of the 10-year period beginning on the date such statement is so furnished.
Section 1243(b) of Pub. L. 99– 4 provided that: “The amendment made by subsection (a) [amending this section] shall apply to sales or exchanges of property received in exchanges after September 25, 1985.”