Podcast: @Amy_From_Sydney and @Expatriationlaw discuss the dwindling prospects of a political solution to @citizenshiptax and the indifference @Demsabroad showed for #Americansabroad by failing to consider the @Demsabroadtax proposal for #FATCA repeal.
Good news: @Demsabroadtax had the courage to propose #FATCA repeal/resolution to @Demsabroad as a whole. Bad news: At their May 22/22 meeting DA failed to consider the issue demonstrating total indifference to the plight of #Americansabroad.
The name @Demsabroad causes #Americansabroad to think DA is an organization to represent the interests of individuals abroad. The purpose of DA is to attract votes from abroad to support @TheDemocrats who are the party of #FATCA and @citizenshiptax.
The mission of @DemsAbroad, as the arm of the @TheDemocrats is to attract votes from @USVotersAbroad. DA is constantly encouraging individuals to @VoteFromAbroad. They are will organized and "The Sun Never Sets On The DA Message". But, #Americansabroad need to think carefully.
.@Citizenshiptax enforced by #FATCA is an assault on all #Americansabroad, their families and on the sovereignty of the countries where they live. Senior Democrats - including @SenWarren and @SenWhitehouse - support both. FATCA was key legislation of the Obama Presidency.
It is telling that it has been more than 12 years since #FATCA became law. For 12 years the US Government has been content to inflict pain and harm on individuals living outside the USA. It's not that they don't care. It's that they don't care that they don't care.
.@Demsabroad claims that in 2020 the "overseas vote" delivered Georgia and Arizona to the @TheDemocrats. If that's true, then the "overseas vote" can reverse that result. Since, they won't see the light. It's time to make them feel the heat!"
The failure of @Demsabroad to consider the resolution of their own @DemsAbroadTax force to repeal #FATCA demonstrates the total indifference they have for the plight of #Americansabroad. Suggest @USVotersAbroad remember this when asked to @VoteFromAbroad.
.@Demsabroadtax led by @AbroadRebecca have shown courage and leadership in putting the #FATCA repeal resolution before @Demsabroad and deserve the thanks of all #Americansabroad. They are also swimming upstream.
The painful message is that if a political solution is possible to the problems of #Americansabroad, @USVotersAbroad must understand the solution will not come from @TheDemocrats ... seatnow.org/2021/06/14/ove…

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More from @ExpatriationLaw

May 24
A post of particular relevance for those #Americansabroad who have activities that may require international info returns (5471, 3520, 3938, etc). Make sure that your tax preparer has an expertise in this specific area. See post from @TaxConnections ... taxconnections.com/taxblog/irs-ta…
The US clearly sees penalties as an important and deliberate "form" (pun intended) of raising revenue. A cynic might say that Treasury wants to be able to levy penalties. See this interesting excerpt ... Image
It is "reasonable" (pun intended) for the taxpayer to raise "reasonable cause" if assessed penalties. Clearly reliance on a tax professional is NOT sufficient to succeed in the abatement of penalties for "reasonable cause". Since 2000, it has generally been understood that ... Image
Read 7 tweets
May 21
In the 1700s Adam Smith wrote "The Wealth Of Nations" - the great powers (France and the USA" understood that to mean "The Wealth Of OTHER Nations. Here is "Confiscation: Haiti Edition" nytimes.com/interactive/20…
Looks like the colonists were not the only people who desired independence from their colonial masters ... nytimes.com/2022/05/20/wor…
Read 7 tweets
May 17
From @HelenBurggraf - taken to it's conclusion means that US citizens should renounce in order to avail themselves of the benefits of being a #nonresidentalien which include parking money in the USA away from the prying eyes of the rest of #CRS world. americanexpatfinance.com/news/item/971-…
Q. How can nonresident aliens (not US citizens or residents) use the USA as a privacy jurisdiction? Why does @TaxHavenUSA exist? A. Because, as noted by @TaxJusticNet, the USA as refused to join the Common Reporting Standard which requires reciprocal exchange of information.
While refusing to join the CRS and provide information to the rest of the world, the USA employs #FATCA to require information from the rest of the world. It's the American Way: You will give us everything and we will give you nothing. "Heads I win and tails you lose."
Read 12 tweets
May 5
The more complex the system of laws, the more likely it will result in unfairness ... “How is he going to manage alone?” Mr. Ganesan said. “I was really devastated that just because of my country of birth, my son’s opportunities are very limited.” nytimes.com/2022/04/30/us/…
Barack Obama once claimed: "The circumstances of your birth should not determine the outcome of your life." One more example of individuals being victimized by the complexity of a system of laws (probably applying in ways that were never intended).
US tax and immigration laws appear to be (1) incredibly complex and (2) antiquated and archaic (3) based on assumptions that are not connected to the 21st Century.
Read 11 tweets
Apr 18
Interesting message from @EWarren indicates a "carve out" from @TheDemocrats core values for #Americansabroad (who actually are "working people" not mini-multinationals). Perhaps @DemsAbroadTax could educate @SenWarren about @CitizenshipTax and #FATCA. nytimes.com/2022/04/18/opi…
Exhibit A: "Standing up for the inherent dignity of everyone is a core American value, and Democrats are proud to do that every day."
Exhibit B: "Democrats win elections when we show we understand the painful economic realities facing American families and convince voters we will deliver meaningful change."
Read 11 tweets
Apr 15
Should the income tax be a "class tax" or a "mass tax"? - "Not Enough Americans Pay Income Tax. Should They?" via @YouTube
Apparently approximately 50% of US residents pay no income tax. Is this an argument for ending the income tax and moving to something more akin to a "mass tax" like @FairTaxOfficial?
Interesting discussion that suggests that taxation is an issue of "citizenship". What if you have a majority not paying income tax but voting how tax revenues are spent?
Read 7 tweets

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