Category Archives: Issues regarding US persons abroad

Representatives from American Citizens Abroad (ACA) and other groups advocating for overseas Americans are convening in Washington D.C. this week for the annual Overseas Americans Week (OAW). ACA and its sister groups will be discussing a Residency-Based Taxation (RBT) proposal with lawmakers and members of the Administration.

Geneva, Switzerland (PRWEB) February 12, 2013

Representatives from American Citizens Abroad (ACA) and other groups advocating for overseas Americans are convening in Washington, D.C. this week for the annual Overseas Americans Week (OAW). ACA and its sister groups are pushing for major tax reform for the estimated five to seven million Americans living outside of the United States. The groups’ proposal for Residency-Based Taxation (RBT), introduced to Washington D.C. legislators last November, will be discussed in detail with members of Congress this week. In meetings with legislators, ACA will stress that this vital tax reform would increase U.S. exports and create more jobs in the United States.

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The Market Oracle, Feb 12, 2013 – 03:18 PM GMT By: Jeff_Berwick

 Wendy McElroy writes: Anyone planning to permanently leave the US should give deep thought to whether they are emigrating or defecting.

The two concepts have so much in common that they tend to blur together. They may be best viewed as two extremes of the same axis upon which people can ‘grade’ themselves. But there is a significant difference between the attitude, motives, and actions of a straightforward emigrant versus a defector. And where you stand on the axis affects the most important aspect of who you are: How do you evaluate yourself?

More…

I can’t find the thread here where we discussed this during the bumpy ride last week as Petros jacked up the IBS bus and redid the wheels, but according to Allison Christians blog it seems that Victoria has, after initial refusal by the OECD to the ACA, gotten the go-ahead to attend OECD meeting “on behalf of ACA and all the people I know who are keenly interested in this topic. I plan on taking lots and lots of notes” http://taxpol.blogspot.ch/2013/02/oecd-public-briefing-not-really-public.html I understand that she will be attending today, the 12th.

For those of you who do not know Victoria, here is her own blog: http://thefranco-americanflophouse.blogspot.ca

Bon Courage Victoria!!!

The Federal Conservatives just announced that they are dropping their plans for a big “E-Snooping” Bill. More below:

Harper government kills controversial Internet surveillance bill

We’ve listened to the concerns of Canadians,” Justice Minister Rob Nicholson told reporters outside the House of Commons on Monday.

He said that “we will not be proceeding with Bill C-30. And any attempts to modernize the criminal code will not contain …warrantless mandatory disclosure of basic subscriber information or the requirement for telecommunications service providers to build intercept capability within their systems.”

Instead, the government has carved out a sliver of the bill to ensure warrantless wiretaps during emergencies remain legal.

“We are immensely relieved,” said Chantal Bernier, the federal assistant privacy commissioner. She said the government’s reversal “is the result of the recognition of the fundamental right to privacy of Canadians, and also of their attachment to it.”

Bill C-30 caused a furor when it was introduced a year ago this week. The legislation would have permitted police and other government officials to compel Internet service providers to disclose identifying information linked to clients’ ISP addresses without a warrant.

So how will they justify a FATCA IGA. Or is FATCA dead now too?

A7 Radio’s “Goldstein on Gelt” with Douglas Goldstein

Are you an American citizen now living in another country? If so, you might not be aware that you still have tax obligations to the IRS, even though you may be paying taxes to your current country of residence. On this week’’s Goldstein on Gelt show, Doug speaks to CPA Ron Zalben, who talks about the FBAR and FATCA tax forms, what they are, and why it is so important to file them.

I would suggest that we SWAT flood this CNN Article with comments about the various taxes USPs abroad face. Perhaps we can stress double taxation due to non FEIE on welfare, unemployment, disability, retirement benefits.

…some of the working poor face marginal tax rates “approaching 90% as they lose benefits attempting to better themselves.”

Readers were incredulous, asking how it could be that in a nation with a top federal income tax rate of 39.6% on individuals making more than $400,000 a year, anyone could face a 90% rate.

It is true. Marginal tax rates, especially for those below the top rate brackets, are chaotic, confusing, and all over the map.

As a result, some of the working poor face extremely high rates on their next dollar earned.