This post is from the RenouceUScitizenship blog.
Author Archives: USCitizenAbroad
US Ambassador to Canada Jacobson to join BMO
This post is from the RenounceUScitizenship blog.
RT @politicalpoints After term ends, US ambassador to Canada Jacobson to join BMO http://t.co/499P22XTyB – Advising 70 year old grandmas!
— U.S. Citizen Abroad (@USCitizenAbroad) May 21, 2013
This is an incredible story. Ambassador Jacobson is best known for his amazing “70 year old Grandmas” speech in Ottawa on October 18, 2011.
“When I read all of this I was concerned. So last week I called the Commissioner of the United States Internal Revenue Service to see what we could do. I explained the problem to him.
The result is that both he and I are sympathetic to the concerns. We are going to work together to see if we can’t find a way to accommodate grandma — and others — here in Canada. But we have to figure out a way to do it without letting the person who is trying to evade taxes in the Cayman Islands off the hook.
My message on this one is to sit tight. We are not unreasonable. We are not unsympathetic. We are not irresponsible.”
David Jacobson – U.S. Ambassador to Canada – October 18, 2011
Chairman Camp must add #IRS Reform to Tax Reform
IRS: Taxing Ur Patience and Patriotism http://t.co/oXSjalOkTl via @cstribune – @CynthiaLummis do u know about IRS #OVDP penalty abuse?
— U.S. Citizen Abroad (@USCitizenAbroad) May 21, 2013
A possible ally! See the article she wrote for a local paper!
Thanks @CynthiaLummis 4 standing up against IRS. Ur thoughts on IRS penalty abuse of #americansabroad in #OVDP ? http://t.co/sDknkr0ASK
— U.S. Citizen Abroad (@USCitizenAbroad) May 21, 2013
Opportunity to draw public attention to #IRS #OVDP penalty abuse
House and Senate committee hearings on #IRS screening of Tea Party tax-exempt applications set for May 21 http://t.co/Yi85GqK0qZ #OVDP
— U.S. Citizen Abroad (@USCitizenAbroad) May 21, 2013
The investigation into the IRS continues on May 21/13 (Senate) and May 22/13 (House). This is basically a continuation of what started on Friday May 17/13. What was interesting was that the hearing generated a whole Twitter discussion with the hashtag #IRS. Former Commissioner Douglas Shulman is apparently testifying on May 21 before the Senate and on May 22 before the House. As you know it is been hard to get anybody to focus on the issues surrounding the voluntary disclosure programs. Twitter can be the weapon of choice to get this injustice in front of a lot of Americans who probably have little awareness of all this (which I suspect is a lot of people).
In any event, get yourself a Twitter account. Learn how to tweet with the #IRS hashtag. If you want to direct your tweet to somebody in particular you do so with the @ sign.
For example:
“@YourVoiceAtIRS thanks for recognizing #IRS penalty abuse in #OVDP Just one more example of #IRS overreach”
or
“@ACAVoice thanks for supporting #americansabroad in your tireless question for Residence based taxation”
People will following tweets with the #IRS tag. Let’s get this story in front of mainstream America.
Mike Kelly explains why investigation into IRS just beginning
This post is from the RenounceUSCitizenship blog.
Congressman Goes On Berating Rant At Ousted IRS Commissioner And Gets A Standing Ovation http://t.co/4PcxUiqKcX – Rep. Mike Kelly (R-Pa.)
— U.S. Citizen Abroad (@USCitizenAbroad) May 19, 2013
All U.S. citizens everywhere should watch this video of Mike Kelly and Steve Miller. I predict that (as the Carpenters sang):
“We’ve only just begun!”
President should not even joke about abusing IRS power
Tax Audits and Threats of Audits Are No Laughing Matter http://t.co/b41XpPqgnk – IRS not the enforcer of the Obama or any administration
— U.S. Citizen Abroad (@USCitizenAbroad) May 14, 2013
This must read article includes:
Bulletin from Shadow Raider – You will want to read this
Shadow Raider says
YES! YES! IT WORKED!!! The Senate Finance Committee had its meeting on international competitiveness today (instead of May 23 as scheduled), and it included notes about individuals! It’s considering the proposal in Bernard Schneider’s paper!
Excerpts from the meeting notes (my comments in bold):
“The United States income tax rules applying to cross-border income are based on two core concepts: the residence of the taxpayer and the source of the taxpayer’s income.” (Are they abandoning the concept of citizenship now?)
“Nonresident citizens: U.S. citizens living abroad are generally taxable as residents of the foreign country where they live. They are also required to file U.S. federal income tax returns annually and pay tax to the U.S. on their worldwide income, subject to the foreign tax credit and an exclusion for a limited amount of foreign-earned income. Other countries generally tax their nonresident citizens only on income their citizens earn in their country of citizenship. Some believe certain employers overseas are reluctant to hire U.S. citizens because of the associated tax burden and compliance costs.”
“NON-RESIDENT U.S. CITIZENS
1. Provide an election to citizens who are long-term nonresident citizens to be taxed as nonresident aliens if they meet certain conditions (Schneider, “The End of Taxation Without End: A New Tax Regime for U.S. Expatriates,” 2013; similar to the law in Canada) (You read it right, they mentioned Canada!)
a. Require a minimum period of residence abroad
b. Impose an exit tax on electing taxpayers where deemed to sell all assets at the time of election
2. Repeal the foreign-earned income exclusion (H.R.2 (108th Congress), Jobs and Growth Tax Relief and Reconciliation Act of 2003, sponsored by Rep. Thomas)”
I can’t believe it! feel like jumping around right now!
The enduring mystery of US #offshore cash
The enduring mystery of U.S. #offshore cash https://t.co/mbZjIUyJk1 – Fascinating explains why cash rich companies borrow to pay dividends
— U.S. Citizen Abroad (@USCitizenAbroad) May 9, 2013
This is a fascinating article. It explains why companies keep a higher percentage of their cash outside the United States and why they are likely to continue to do so. The U.S. is “cash strapped” and printing money. Yet, it won’t allow its corporations to bring its money back to invest in the U.S. How can this not be bad policy?
Excerpt includes:
#FBAR Story Ends – Judge frees Curran after she paid willful penalty
An #FBAR story with a happy ending http://t.co/IBkI5cmnju – Judge frees Curran and criticizes prosecutors. But massive #FBAR penalty!
— U.S. Citizen Abroad (@USCitizenAbroad) April 26, 2013
You may recall that this was the 79 year old woman who was coerced into paying the 50% FBAR penalty on her offshore accounts. The tweet references the post at Jack Townsend’s blog which includes:
Cook v. Tait 8: Does citizenship-based taxation cross the boundaries of tax justice?
This post is from the RenounceUScitizenship blog.
This is the eighth of a series of posts – starting with Cook v. Tait 1 – about citizenship-based taxation. A recent article by Allison Christians “Drawing the Boundaries of Tax Justice” is a must read. The article is notable because it considers tax policy without adopting any of the usual assumptions. In fact, the article invites you to reexamine your assumptions about the principles of taxation. The article asks a number of questions including the obvious: who should be taxed, why, and what is the basis for taxation. Although the article is NOT specifically about citizenship- based taxation, it raises the question about its appropriateness.
RT @FATCA_Fallout Drawing the Boundaries of Tax Justice http://t.co/NTaSzuoydO Characterized by arbitrariness & injustice
— U.S. Citizen Abroad (@USCitizenAbroad) April 24, 2013
An excerpt from the article that is a useful contribution to the analysis of “citizenship-based taxation” is: Continue reading