20K
Downloads
289
Episodes
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 24, 2020
Friday Jul 24, 2020
July 20. 2020 - Participants Include:
Ronan McCrae - @RonanMcCrea
John Richardson - @ExpatriationLaw
_________________________________________________
Ronan McCrae
Professor of Constitutional and European Law
Faculty of Laws
University College London
This was a fascinating discussion which discusses "citizenship by descent" under Irish law. At the heart of the debate is the question of what should be the connection between a citizen and the country? What are the responsibilities of citizenship? What about citizens voting from abroad?
Does it make sense for Ireland (or any other country) to allow citizenship to numbers that exceed the population of Ireland?
Thanks to Ronan for a very insightful and thought provoking discussion. Listeners might find the following opinion pieces (written by Ronan) to be of interest.
Sunday Jul 19, 2020
Sunday Jul 19, 2020
July 17, 2020 - Participants include:
Dr. Bernard Schneider - BernardSchneider.com
John Richardson - @ExpatriationLaw
___________________________________________________________________
Dr Schneider is an assistant professor in International Tax Law at the Centre for Commercial Law Studies, Director of the LLM in Tax Law and LLM Research Director. He is also the academic director of the institute of tax law at CCLS. The CCLS is the graduate law program at Queen Mary, University of London.
He teaches international, US and Chinese taxation.
Dr Schneider wrote his PhD thesis on the development of the Chinese income tax system. His main research interests are in the areas of international and comparative tax law, tax policy and administration, the taxation of individuals, tax law as public law and the US and Chinese tax systems.
Dr Schneider graduated from the New York University School of Law with a JD and an LLM in Taxation, and he holds an MIA from the School of International and Public Affairs at Columbia University and an Advanced Certificate in China Studies from Columbia University's East Asian Institute. He studied Chinese at the Mandarin Training Centre of the National Taiwan Normal University in Taipei and at Capital Normal University in Beijing. He is fully proficient in Mandarin Chinese and can read and write traditional and simplified characters.
Prior to completing his thesis, Dr Schneider practised in New York, China and the United Kingdom, primarily in the areas of international and US taxation.
______________________________________________________________
Dr. Schneider's scholarship includes:
The End of Taxation without End: A New Tax Regime for U.S. Expatriates
Virginia Tax Review, Vol. 32, No. 1, 2012
76 Pages Posted: 7 Dec 2012 Last revised: 17 Dec 2012
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2186076
______________________________________________________________
ACA Conference on Citizenship-based taxation
On May 2, 2014 Dr. Schneider participated with Professor Michael Kirsch in a debate over US citizenship-based taxation.
The Kirsch Schneider debate is available for viewing here. Those interested in "listeners reaction" to the debate can view some live commentary here.
Wednesday Jul 15, 2020
Wednesday Jul 15, 2020
July 15, 2020 - Participants Include:
Virginia La Torre Jeker - @VLJeker
John Richardson - @Expatriationlaw
_________________________________________________________________________
In 1996 Congress amended the Immigration and Nationality Act to include a provision which reads:
- (E) Former citizens who renounced citizenship to avoid taxation
Any alien who is a former citizen of the United States who officially renounces United States citizenship and who is determined by the Attorney General to have renounced United States citizenship for the purpose of avoiding taxation by the United States is inadmissible.
Note that this law applies to those who "renounce" and does not appear to apply to those who relinquish US citizenship in another way. Furthermore, note the large number of conditions that must be met by IMMIGRATION officials before the law could be applied.
I have had a number of inquiries from people asking if this law really applies.
The short answer is that:
1. There is almost no evidence that the US Government is attempting to apply this law (only two cases from 1996 - 2015, were identified in a 2015 Report From The Department Of Homeland Security); and
2. It is very difficult for the law to be applied.
By the far the best summary of information on this topic comes from a post at the Isaac Brock Society. Interestingly the Brock post references a 2013 interview that Virginia La Torre Jeker (our guest) had with Willard Yates.
Those who are interested in this topic should read the Brock post in its entirety and the 2015 Report from the DHS. For those who want only a summary of the Brock post, the last paragraph reads:
"So, DHS is trying to say: the Reed Amendment is no danger to you, as long as you observe the rule of “don’t ask, don’t tell” at the consulate and the border. The implied threat of the IRS — “keep paying your accountant to fill out all your forms and prove you owe no tax, or you’ll never see your bedridden grandma again” — is probably a hollow one, absent Congressional action. You can go ahead and waltz your way through the humiliating charade of renunciation. You’ll only be under the same threat of arbitrary visa denial as any other foreigner.
The American Way: keeping your mouth shut and handing over thousands of dollars in order to exercise your human right to choose your nationality."
My personal advice would be ...
I think that you should be aware of the Reed Amendment and understand that you never communicate a tax related motive as a reason for renouncing U.S. citizenship.
It's unlikely that the Reed Amendment could impact you.
But, as they say in the investment world:
"Past performance is not an absolute guarantee of future results."
John Richardson - CitizenshipSolutions.ca
Enjoy the discussion!
Update - Possible additional links of interest:
– here is the link to the interview wtih Bill Yates http://us-tax.org/2018/09/30/if-you-go-you-cant-come-back-the-reed-schumer-follies-past-and-proposed-anti-expat-legislation-interview-with-bill-yates-former-irs-attorney-international/
More Links to Schumer Reed et al Senate proposals from 2013 – they just can’t let it go!!!
https://www.angloinfo.com/blogs/global/us-tax/1243-2/
And finally courtesy of Heitor David Pinto at Keith Redmond's American Expatriates Facebook group ...
Since the 2015 report only three of approximately 17,000 renunciants are believed to have drawn the attention of the Reed Amendment ...
Monday Jul 13, 2020
Monday Jul 13, 2020
July 13, 2020 - Participants Include:
Jenny - @CrossBriton
Filippo Noseda - Mishcon de Reya
John Richardson - @ExpatriationLaw
____________________________________________________________________
Jenny has been crowdfunding her UK based anti-FATCA lawsuit. Because her case is based on the claim that the FATCA IGAs violate the GDPR, the case raises issues that impact all IGAs.
In this inverview, Filippo Noseda explains the historical origins of privacy law in the context of EU human rights principles. He also explains why the FATCA flow of information is disproportionate to the objectives sought.
Following a negative decision from government agencies Jenny and Filippo Noseda intend to bring a "judicial review" application in the UK courts. This application is important and will cost a great deal of money.
After listinging to this podcast, you will better understand the objectives and basis of this lawsuit and why it is your interests to contribute.
To see a snapshot of only some of the work done by Mr. Noseda see his permanent online repository here.
The outcome in this lawsuit is likely to have a huge impact on how other FATCA lawsuits (including the Canadian ADSC lawsuit) end up.
Your contributions to Jenny's lawsuit are essential - donate here.
Contributions to the Canadian ADCS FATCA lawsuit may be made here.
Sunday Jul 12, 2020
Sunday Jul 12, 2020
July 12, 2020 - Participants include:
Dr. Valerie McCray - @DrVMcCray2020
John Richardson - @Independents
___________________________________________________________________
A fascinating discussion with Dr. Valerie McCray who is running as an independent candidate for President of the United States. Please visit her site here.
Dr. Valerie McCray’s Story
Dr. Valerie McCray is a unique choice for President of the United States of America. She is entering the presidential race “straight from the trenches” as a psychologist that has spent most of her career working in the aftermath of tragedy.
Saturday Jul 04, 2020
Saturday Jul 04, 2020
July 4, 2020 - Participants include:
Claire Kendal - @ClaireKendal
John Richardson - @Expatriationlaw
"Claire Kendal was born in America and educated in England, where she spent all of her adult life. Her first novel, The Book Of You, was a Richard and Judy title and Sunday Times top ten bestseller. It has been translated into over twenty languages. Claire teaches English Literature and Creative Writing and lives in the South West with her family. I Spy is her third novel."
Friday Jun 26, 2020
Friday Jun 26, 2020
June 26, 2020: Participants include:
John Richardson - ExpatriationLaw
JR - https://americanexpatfinance.com/news/item/299-eu-parliament-fatca-impact-hearing-tuesday
A fascinating interview with one of the early "Anti-FATCA Pioneers".
Topics include:
- the "Oh My God" moment: what it means and how to respond to it
- the EU petition
- Jenny's anti-FATCA "GDPR" based lawsuit
- the need for improving the support for these initiatives
The problem of using FATCA to support US Extraterritorial taxation is larger than the problems of any one individual.
More help is required ...
Thursday Jun 25, 2020
Thursday Jun 25, 2020
June 25, 2020 - Participants include:
Dr. Karen Alpert - @FixTheTaxTreaty
John Richardson - @ExpatriationLaw
Part 3: Dr. Alpert and John Richardson continue the discussion of what it means to be a nonresident alien and how nonresidents are treated by the US tax system. In Part 3, we discuss how US IRAs and 401ks are taxed to nonresident aliens. Hint: You need to understand the US rules, the local rules and how the tax treaty may modify those rules. This is a difficult and fascinating topic with huge consequences!
Nonresident aliens who created IRAs and 401ks in the United States will find this of particular interest.
Thursday Jun 25, 2020
Thursday Jun 25, 2020
June 25, 2020 - Participants include:
Dr. Karen Alpert - @FixTheTaxTreaty
John Richardson - @ExpatriationLaw
Part 2: Dr. Alpert and John Richardson continue the discussion of what it means to be a nonresident alien and how nonresidents are treated by the US tax system. In Part 2, we discuss how the US taxation of US source income received by nonresident aliens should impact the decision of whether to renounce US citizenship. Hint: The more US source income you have, the more likely that you could increase your US taxes if you renounce. To be forewarned is to be forearmed.
Thursday Jun 25, 2020
Thursday Jun 25, 2020
June 25, 2020 - Participants include:
Dr. Karen Alpert - @FixTheTaxTreaty
John Richardson - @ExpatriationLaw
Part 1: Dr. Alpert and John Richardson discuss what it means to be a nonresident alien and how nonresident aliens are treated by the US tax system.
_______________________________________________________________