Liberty and justice for all United States persons abroad

The Isaac Brock Society

Tag Archives: U.S. Transition tax

Brock project: Comparing the comments on the French version of the @LizT1 @USTransitionTax article to the comments on the English version

Posted on by Posted in Issues regarding US persons abroad, Tax Residency, Tax Treaties, Transition Tax 9 Comments

Reference to the English version of Elizabeth Thompson’s recent article on the U.S. Transition Tax was posted here. A person in Europe found the French version and forwarded it.

The French version has far fewer comments. But, I thought it would be interesting to perhaps do a bit of translation and see if they are as ridiculous as the majority of the comments on the English version.

Another article by @LizT1 about the @USTransitionTax – Just when you thought it couldn’t get worse!

Posted on by Posted in Issues regarding US persons abroad, Non Resident Taxation, Tax Treaties, Transition Tax, TTFI 28 Comments

Another good article by the Elizabeth Thompson. It would appear that compliance with the “transition tax” is getting more and more difficult. The article begins with:

Thousands of Canadian residents hit hard by a retroactive tax signed into law by U.S. President Donald Trump have been dealt another blow, CBC News has learned.

Newly proposed regulations issued by the U.S. Treasury Department and the Internal Revenue Service threaten to increase their tax hit.

“You have to almost empty out your company and pay a lot of Canadian tax to avoid the U.S. tax,” said Kevyn Nightingale, a partner with the accounting firm MNP.

Interestingly, Ms. Thompson does reference the Solomon Yue American Chamber of Commerce meeting this Thursday August 16 in Toronto.

The comments seem less vicious today (at least so far).