AICPA helped make new rules on expatriation simpler than proposed.

After working with congressional officials for more than eight years on expatriation taxation, the AICPA stated that the new rules signed into law in June are more administrable and simpler than originally proposed. Under the new provisions, certain high-net worth individuals who renounce their U.S. citizenship or relinquish a green card are now subject to an "'Exit Tax" regime that includes an "'Inheritance Tax" on gills and bequests received by U.S. persons from individuals who have expatriated or their estates. The new rules will raise $411 million in revenue over the next 10 years to help pay benefits to military personnel under the Heroes Earnings Assistance and Relief Tax Act of 2008.

The proposal that led to the new law first was...