ExpatriationLaw – X Spaces Lives Discussions – Ending Double Taxation Of Americans Abroad
ExpatriationLaw - X Spaces Lives Discussions - Ending Double Taxation Of Americans Abroad
Podcast Description
In 2024 President (then candidate) Trump pledged to end the "double taxation" of Americans abroad. This was welcome news to the community of overseas Americans. The Trump pledge was largely the result of work done by Republicans Overseas and the Republicans Overseas tax committee.
2024 was also a year of other groups and individuals "coming together" in an organized way to end the unfair taxation of Americans abroad.
I (John Richardson) started a series of live "X Spaces" discussions for the purpose of discussion of the taxation of the U.S. citizenship tax system - inflicted on Overseas Americans. The purpose of the discussions is to gain understanding and achieve agreement on the most important aspects of the problems. Where is there agreement? Generally, (regardless of specific differences) overseas Americans are united around the goal that Overseas Americans should be treated the same as nonresident aliens for the purpose of U.S. income taxation.
I am reposting the "X Discussions" here so that there is a record of what was said, by whom and why.
expatriationlaw.substack.com
Podcast Insights
Content Themes
The show emphasizes the inequities of the U.S. citizenship tax system impacting expatriates, including episodes addressing double taxation, FATCA reporting, and various reform proposals like the FAIR Tax and residency-based taxation. Specific discussions have included the implications of the Edelman case, the costs associated with ending citizenship taxation, and the challenges presented by IRS practices.
In 2024 President (then candidate) Trump pledged to end the “double taxation” of Americans abroad. This was welcome news to the community of overseas Americans. The Trump pledge was largely the result of work done by Republicans Overseas and the Republicans Overseas tax committee.
2024 was also a year of other groups and individuals “coming together” in an organized way to end the unfair taxation of Americans abroad.
I (John Richardson) started a series of live “X Spaces” discussions for the purpose of discussion of the taxation of the U.S. citizenship tax system – inflicted on Overseas Americans. The purpose of the discussions is to gain understanding and achieve agreement on the most important aspects of the problems. Where is there agreement? Generally, (regardless of specific differences) overseas Americans are united around the goal that Overseas Americans should be treated the same as nonresident aliens for the purpose of U.S. income taxation.
I am reposting the “X Discussions” here so that there is a record of what was said, by whom and why.
The following AI Generated podcast is based on a presentation that I delivered 10 years ago in London, UK. Not much has changed.
Here is the AI generated description of the presentation:
Sacred Trust: Counselling Through U.S. Citizenship Trauma Abroad
1 source
The provided text, “Sacred Trust: Counselling Clients Through the “Trauma of U.S. Citizenship Abroad” in a FATCAesque World,” by John Richardson, outlines the significant challenges faced by U.S. citizens living abroad due to the Foreign Account Tax Compliance Act (FATCA). It details how financial institutions worldwide are identifying individuals with U.S. indicia, leading to many discovering they are considered U.S. persons and are therefore subject to U.S. taxation. The document emphasizes the emotional and financial “trauma” associated with this realization, including the complex decisions regarding renunciation of citizenship and the potential for a hefty “Exit Tax” for “Covered Expatriates.” Ultimately, the text highlights the specialized and sensitive counseling required for these individuals, stressing that advisors act as life counselors guiding clients through profound and often life-altering decisions. The source also touches on the negative impact U.S. citizenship abroad has on financial and business opportunities.
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