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https://twitter.com/Saunderswsj/status/1672221538655916032Strongly encourage reading Ms. Saunders - @Saunderswsj - article on how the #NIIT works and how inflation causes it to apply to more people (resulting in #doubletax of #Americansabroad). Link behind paywall wsj.com/articles/niit-…
https://twitter.com/ExpatriationLaw/status/1663541732238327810
https://twitter.com/AmerIronCurtain/status/16639394321841684491. Article 10 of #FATCA IGA contains a notice provision that allows each country to withdraw from the agreement. But, withdrawing from the agreement leaves Belgium "subject" (pun intended) to the direct application of FATCA rules in the IRC (1471 - 1474) home.treasury.gov/system/files/1…
https://twitter.com/DemsAbroadTax/status/1663536005700538375As the @DemsAbroadTax statement states/implies this problem can be solved ONLY if the US joins the world in adopting residence as the criterion for @TaxResidency. Citizenship would no longer be relevant for taxation. But, this is NOT part of any legislative proposal.
https://twitter.com/ExpatriationLaw/status/1641123264155074566Report goes on and on about Dan Horsky and a "The Family" (US residents) who used Credit Suisse to (presumably) evade US taxes. It concludes a vast conspiracy and uses this to condemn @DualCitizenship (pp 33 - 337)and justify the hiring of more IRS agents. finance.senate.gov/imo/media/doc/…
https://twitter.com/ExpatriationLaw/status/1640886719460376576General features of Canada’s new #FHSA: max contribution $8000 per year and $40,000 lifetime. Contributions tax deductible. Growth in plan not taxable. Distribution not taxable if used to buy first home. US citizens in Canada will need special planning. canada.ca/en/revenue-age…
https://twitter.com/ExpatriationLaw/status/1626410929641467905
https://twitter.com/AmExpatFinance/status/1608821730763571200What if Mr. A makes Mr. B "an offer he can't refuse"? Mr. B agrees to the obligation. Is this "reciprocal" or is this an agreement under duress? Can one really say this "classic" staple of American culture - is an example "reciprocity? Is it thuggery?