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Discussion about current events, culture, independent candidates, business, education, travel, death and taxes, global mobility, citizenship and residence by investment options, Americans abroad, FATCA, CRS, U.S. citizenship renunciation, Green Card abandonment, citizenship taxation, PFIC, GILTI, foreign trusts, I-407 and more ...
Episodes
Friday Jul 15, 2022
Friday Jul 15, 2022
July 14, 2022 - Participants Include:
Dr. Karen Alpert - @FixTheTaxTreaty
Dr. Laura Snyder - @TapInternation
John Richardson - @Expatriationlaw
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Once upon a time, back in the last century, the US passed a law which stated:
Some Context: America and Americans Abroad in the late 1970s:
In 1978 Congress enacted a law calling for the Equitable Treatment By United States Of Its Citizens Living Abroad
EQUITABLE TREATMENT BY UNITED STATES OF ITS CITIZENS LIVING ABROAD
Pub. L. 95-426, title VI, Sec. 611, Oct. 7, 1978, 92 Stat. 989, as amended by Pub. L. 96-60, title IV, Sec. 407, Aug. 15, 1979, 93Stat. 405; Pub. L. 97-241, title V, Sec. 505(a)(2), (b)(1), Aug.24, 1982, 96 Stat. 299, provided that:
“The Congress finds that –
“(1) United States citizens living abroad should be provided fair and equitable treatment by the United States Government with regard to taxation, citizenship of progeny, veterans’ benefits, voting rights, Social Security benefits, and other obligations, rights, and benefits; and
“(2) United States statutes and regulations should be designed so as not to create competitive disadvantage for individual American citizens living abroad or working in international markets.”
To read and understand this history see:
https://threadreaderapp.com/thread/1546790694013976576.html
In 1982 Congress repealed that law on the grounds that it was an "obsolete provision".
The report to Congress may be read here:
https://babel.hathitrust.org/cgi/pt?id=pur1.32754074746458&view=1up&seq=112&skin=2021
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