Zach @ZachExpat
End unjust US citizenship based double taxation Joined May 2018-
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"Straightforward," eh? People who say stuff like this either have their income, savings, investments and other wealth predominantly US sourced/domiciled or are unknowingly non-compliant vis-a-vis things like PFIC, phantom capital gains etc.
"Straightforward," eh? People who say stuff like this either have their income, savings, investments and other wealth predominantly US sourced/domiciled or are unknowingly non-compliant vis-a-vis things like PFIC, phantom capital gains etc.
@ExpatriationLaw As the article says, yet again Americans abroad, who by any first world standard should not even be filing US taxes, are yet again the biggest losers here. Been saying it for years, those who can renounce should be doing it, hoping things are going to get better is not working.
@Christian_Thier @VLJeker @Forbes Been aware of this vile un-American extraterritorial tax exceptionalism since circa 2001, aware that it is a human rights abuse since circa 2010. This goes FAR beyond tax complexities and wrecks lives from multiple angles, and goes far beyond just accidental Americans #FATCA
@ZachExpat @woonomic I have said it many times, more and more Americans who don't give a damn about the persecution of citizens abroad by tax code and associated laws are going to find themselves on the receiving end, then they will see what all the complaints are about. Land of the free?
@DemsAbroad I’m a single issue voter. End citizenship based taxation.
@DanNeidle FATCA seeks to enforce an illegitimate global tax system by the USA, a study of how that tax system works may well help you understand why FATCA is wrong. To confuse FATCA with CRS tells me you do not really understand how very different thay are. #FATCA
@DanNeidle The OECD CRS is completely different than FATCA. FATCA threatens banks for doing business with normal US citizens abroad. FATCA does not find who it says it is after. My son's $201 bank account was reported to the US Treasury, costing the bank 10x his bank account balance.
@JCDoubleTaxed @elonmusk @eerac @paulg A FULL understanding of how US taxation exceptionalism impacts US citizens abroad means you will understand that the USA really does have a financial Berlin wall. Oh sure you can live abroad, but you will be a second class human being. #FATCA papers.ssrn.com/sol3/papers.cf…
Denying the US spouse title to any and all family assets is often ESSENTIAL in order to protect foreign families from imperial US tax piracy, reporting costs, penalties, privacy intrusion. Yes, it leaves US citz abroad in very vulnerable financial positions. #FATCA #CBT #FBAR
@DonaldTNews What a joke! Leaving aside finding a country that would accept them ... Most Americans are not free to leave the "Land Of The Free" because of @CitizenshipTax and #FATCA. Learn more at @SEATNow_org and visit SEATNOW.org
@BruceAHeyman You have no cred, nor any right to tell Americans abroad anything since you’ve supported their financial victimization via #FATCA.
casually checking up mortgages at @Swissquote and oh! no US citizens allowed #FATCA #CBT @USAccidental @DemsAbroadTax @RepubAbroad @RepMaloney @Jim_Jordan @FT @nytimes @WaysMeansCmte @WaysandMeansGOP
@TaxFoundation @amengden Oppressive tax system? Look no further than the U.S.! It’s a tragedy that to truly thrive as an American abroad, one must no longer be one. End #CitizenshipTaxation Repeal #FATCA
@creed50126 @JCDoubleTaxed @CollinRugg "When they moved?" This stuff affects people born abroad to American parents. Were they supposed to "take this into account" in utero? Additionally some of these provisions were enacted semi-recently. How could they "take into account" provisions that didn't exist yet?
@EricD86030806 @CollinRugg And there are areas where the double taxation, complexity, and excessive penalties for having money outside the U.S. :: they are guaranteed. Most live in higher taxing countries so the FEIE is no help. The unearned, pension, family security gets hit. &No Resident services by U.S.
@CollinRugg "The United States is the only country in the world where you will get [double] taxed [as a U.S. resident] even if you leave the country and live [as a tax resident] somewhere else." *The U.S. should shift to only Residence Based Taxation #RBT #FATCA #AmericansAbroad
@RO_Thailand Will this involve a plan to get to RBT?
@NikkiHaleyHQ Remember, you can get HEAPS more votes by supporting USA citizens abroad against the abusive policies against us. #FATCA @RepOverseas
@TheJerzWay Nice of the USA to give other nations residents, citizens and tax payers a limited break on also paying a nation they don't even live in and have no economic ties to? The FEIE does not prevent a laundry list of problems so serious that thousands are lining up to renounce. #FATCA
Keith REDMOND 🟦▪.. @Keith__REDMOND
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521 Followers 76 Following Advocate for overseas Americans. Co-founder of @SEATNow_org. Former international member of the IRS's Taxpayer Advocacy Panel (TAP).@AmerIronCurtain He does not know, what he is talking about
@AmerIronCurtain People who say ‘straightforward’ in this instance demonstrate they do not know about which they speak. #FATCA #RBT
@AmerIronCurtain Most annoying part is where he is given credible and evidence that he is wrong and why, would have taken him at least 30 minutes to begin to see why. He's back 30 secs later repeating his claims, mind closed, didn't read. He has now said he will look and read, let's see.
@AmerIronCurtain Or they have not been abroad that long. Or they don't think they will ever have a business, have business account signature authority, have a trust, have a home, get passive income NIIT, have an overseas pension, etc. Are they in the tax system where they live outside the U.S. ?
@DreamFirms @IRS_MEDIC @adammarkowitzEA Tyler says it's not complicated and refuses to look at evidence showing he is wrong. IRS Tax Payer Advocate says complicated, difficult to comply with, no help from IRS, professional help hard to find and very expensive, increased exposure to penalties..taxpayeradvocate.irs.gov/wp-content/upl…
@DreamFirms @IRS_MEDIC @adammarkowitzEA I have just shown you two links that show that it can quickly become horrendously complex, expensive and dangerous. YOU DIDN'T READ THEM and still want to argue that it's not true. TRY AGAIN republicansoverseas.com/wp-content/upl…
@DreamFirms @IRS_MEDIC @adammarkowitzEA Demanding people renounce to lead free l,ives elsewhere is not the behaviour of a free and fair nation. This lady is playing by the rules and listening to experts. Will you even look before denying again? youtube.com/watch?v=UaTILx…
@DreamFirms @IRS_MEDIC @adammarkowitzEA Here's another one for you Tyler, this is the second I have shown you where entirely compliant people doing all the right things learned why there is something to fear, in this case retroactive US tax code that takes no account of cits abroad. youtube.com/watch?v=-PGg5C…
@DreamFirms @IRS_MEDIC @adammarkowitzEA Americans abroad who can pay who find it all straightforward are the lucky ones. You likely also have a simple life as a second class American and second class resident. Here's what the IRS Tax Payer Advocate says.taxpayeradvocate.irs.gov/wp-content/upl…
@DreamFirms @IRS_MEDIC @adammarkowitzEA For those abroad, the fear is justified. The US effectively applies a separate and for more punitive system to citiz abroad. I and many others now consider this to be a clear and present human rights abuse. You say "just follow the rules" but what are they? #FATCA #FBAR #PFIC
@DreamFirms @MikeBre14267200 @IRS_MEDIC @adammarkowitzEA Where do you live? plan to retire? Where is your income sourced? Do you plan do die outside the us? Do you have kids? are they us citizen? net worth > 2M? Where are your assets located? Lets be real. Answer these questions, and I'll list you the disabilities you'll be facing.
@DreamFirms @IRS_MEDIC @adammarkowitzEA As you can see, they don't agree and neither do I. Here's another report fron 2017 analysing the situation of a US couple moving to Australia, it's horrifying. republicansoverseas.com/wp-content/upl…
@DreamFirms @MikeBre14267200 @IRS_MEDIC @adammarkowitzEA People who say ‘straightforward’ in this instance demonstrate they do not know about which they speak. #FATCA #RBT
@DreamFirms @MikeBre14267200 @IRS_MEDIC @adammarkowitzEA It is evident you do not know if what you speak by your responses and that you do lot deal with American emigrants, Americans overseas, and Accidental Americans globally. Your responses are too simplistic and binary. Not rooted in reality. #FATCA #RBT
@AmerIronCurtain All I know for sure is this guy has never tried living a full life in another nation under US tax code and associated laws including #FATCA "Pretty simple" he says. Clueless.
@MikeBre14267200 I suspect his particular case mustn't be typical. Even short term expats find #CBT annoying because they have to hire expensive accountants (unless their US employers cover it) to prepare zero-balance tax returns and they soon figure out that the expats from other countries don't
"Straightforward," eh? People who say stuff like this either have their income, savings, investments and other wealth predominantly US sourced/domiciled or are unknowingly non-compliant vis-a-vis things like PFIC, phantom capital gains etc.
@MikeBre14267200 @IRS_MEDIC @adammarkowitzEA I live abroad and have no fear because I pay and follow tax advice. Pretty straightforward.
“All Roads Lead To Renunciation!” - Renunciation is not a decision. It’s a necessity.
Another Breaking! Farhy Overruled - A Big Loss for Overseas Americans us-tax.org/2024/05/04/ano… via @VLJeker #farhy #UStax #TaxTwitter #foreign #taxpenalties
@ExpatriationLaw As the article says, yet again Americans abroad, who by any first world standard should not even be filing US taxes, are yet again the biggest losers here. Been saying it for years, those who can renounce should be doing it, hoping things are going to get better is not working.
@ronald_walther Yes. But only in the context of an OVDI/OVDP opt-out. My first opt-out client (and potentially the first in the country) was facing $480k FBAR penalty, I got it reduced to $40,000 in 2013. The IRS only assesses FBAR non-filing penalties against people who have filed FBARs.…