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How to come into US Tax Compliance for #Americansabroad – The book @Expatriationlaw

If you want to renounce U.S. citizenship and avoid being a “covered expatriate” you will need to certify five years of U.S. tax compliance. The link in the above tweet goes to the manual.

 

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Articles from John Richardson @Expatriationlaw on renouncing or relinquishing U.S. citizenship

To read the article, simply click on the link in each tweet.  You may contact John Richardson (the author of this series of articles) about relinquishing U.S. citizenship here.

 

Part 1 – April 1, 2015 – “Facts are stubborn things” – The results of the “Exit Tax

Part 2 – April 2, 2015 – “How could this possibly happen? “Exit Taxes” in a system of residence based taxation vs. Exit Taxes in a system of “citizenship (place of birth) taxation

Part 3 – April 3, 2015 – “The “Exit Tax” affects “covered expatriates” – what is a “covered expatriate“?”

Part 4 – April 4, 2015 – “You are a “covered expatriate” How is the “Exit Tax” actually calculated

Part 5 – April 5, 2015 – “The “Exit Tax” in action – Five actual scenarios with 5 actual completed U.S. tax returns

Part 6 – April 6, 2015 – “Surely, expatriation is NOT worse than death! The two million asset test should be raised to the Estate Tax limitation – approximately five million dollars – It’s Time

Part 7 – April 7, 2015 – “Why 2015 is a good year for many Americans abroad to relinquish U.S. citizenship – It’s the exchange rate

Part 8 – April 8, 2015 – “The U.S. “Exit Tax vs. Canada’s Departure Tax – Understanding the difference between citizenship taxation and residence taxation

Part 9 – April 9, 2015 – “For #Americansabroad: US “citizenship taxation” is “death by a thousand cuts, but the S. 877A Exit Tax is “death by the guillotine”

Part 10 – April 10, 2015 – “The S. 877A Exit Tax and possible relief under the Canada U.S. Tax Treaty

Part 11 – April 11, 2015 – “S. 2801 of the Internal Revenue Code is NOT a S. 877A “Exit Tax”, but a punishment for relinquishment

Part 12 – April 12, 2015 – “The two kinds of U.S. citizenship: Citizenship for “immigration and nationality” and citizenship for “taxation” – Are we taxed because we are citizens or are we citizens because we are taxed?”

Part 13 – April 13, 2015 – “I relinquished U.S. citizenship many years ago. Could I still have U.S. tax citizenship?

Part 14 – April 14, 2015 – “Leaving the U.S. tax system – renounce or relinquish U.S. citizenship, What’s the difference?

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How to renounce U.S. citizenship – The Reununciation Guide

Renounce U.S. Citizenship

U.S. will soon have a “free pass” to collect data & spy on its Citizen’s bank accts anywhere in the world

Many U.S. citizens abroad are considering renouncing their U.S. citizenship. The reasons are outlined in the media, the above video, Twitter handles, and blogs including: The Isaac Brock Society, Renounce U.S. Citizenship, Maple Sandbox and more.

American Citizens Abroad is a wonderful source of information for U.S. citizens abroad. To put it simply: Relinquishing U.S. citizenship, whether by renunciation or through another act of relinquishment is becoming a necessity for survival.

RenunciationGuide.Com – The Attack on U.S. Citizens Abroad

The attack on Americans Abroad began shortly after Barack Obama became President. The current U.S. government through a variety of laws and procedures presumes that U.S. citizens abroad are “tax cheats” and treats them accordingly. As a result,  many Americans Abroad recognize that they must either move to the United States or renounce their citizenship.

RenunciationGuide.com – The Historical Origins of the site

Interestingly, a site – renunciationguide.com – provided basic information about the “nuts and bolts” of renouncing U.S. citizenship. The site was generous and allowed for anyone to use the content. In February of 2013, renunciationguide.com ceased to exist.

The site has been reactivated in the hopes that it will continue to be a source of information, comfort and advice for Americans Abroad.

RenunciationGuide.com – Moving Forward

The law and circumstances of renunciation are evolving. I invite readers through their comments to add to and update this valuable resource.

As the above video makes clear, the start of “FATCA Hunt” will force many U.S. Citizens Abroad to play the “Expatriation Games”!

 

 

 

 

Huge surge of #FATCA news coming out of Canada

Lots of discussion about renouncing U.S. citizenship with hugely conflicting comments;

The negatives of U.S. citizenship:

The positives of U.S. citizenship:

What a roller coaster!

 

 

 

#Americansabroad in Canada eligible for Canadian citizenship should apply quickly!

Canada has a very large number of resident U.S. citizens. Some of them are Canadian citizens and some not. Those who are NOT Canadian citizens and plan to become Canadian should move quickly. It’s no secret that the attitude of the Government of Canada toward Canadian citizenship is that:

“Canadian citizenship should be harder to get and easier to lose!”

The article referenced in the above tweet is well worth the read. It includes:

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If #Americansabroad are good for America, why is US forcing Amerians to renounce?

The consequence of FATCA is that Americans abroad are either renouncing U.S. citizenship or returning to the U.S. This is NOT good for American companies in world markets. Although it makes no sense, the U.S. destruction of U.S. citizenship abroad continues.

The article includes:

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One of those #Americansabroad describes renouncing US citizenship

The article was published on December 27, 2013. A rough translation of the title would be:

“The experience of renouncing U.S. citizenship”

This  account was written in German. Here is the English version as per Google Translate.

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#Americansabroad coming to realization that US citizenship not compatible with globalization

Nice post about the “coming together” of American Expats Abroad to fight U.S. citizenship based taxation.

It’s all very sad, but the FATCA of the matter is that  U.S. citizenship is not compatible with life outside the United States. The article includes:

Ferauge said despite the complications she has not thought about renouncing her U.S. citizenship. She said she will exhaust all options before going that route. She does say it’s been increasingly difficult to remain optimistic about the situation.

“On a last note, to be brutally honest with you, I’m just very tired” she wrote in a recent blog post. “I’m tired of writing letters, tired of explaining and tired of fighting.  There is so much about this that I simply cannot change.  I cannot make homeland Americans feel differently about their expatriates.  My influence — even as a U.S. voter — is practically nil. I have lost all faith in the U.S. government (Obama and company included).  I no longer think it will improve – on the contrary I can think of a hundred ways it could get worse.  And I have slowly come to the realization that American citizenship and globalization are an imperfect fit these days.  Perhaps it will get better with time but that, it seems to me, is something I can hope for my children’s sake, but not something I am coming to believe that I can realistically expect to have for myself.”

How can a government be as stupid as the current U.S. government?