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@SEATNow_org
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Trump Tax Cuts vis-à-vis the Transition Tax retroactive back to 1986 + GILTI have been RUINOUS to Americans overseas with small medium-size businesses who are in the US tax system. LET’S TELL THE WHOLE STORY! #FATCA #RBT @suzanneherman1 is a witness to this!
Sales tax on non-essentials would: Protect the poor, eliminate complexity, cost IRS little to enforce and allow Americans to compete in global economy. Currently they cannot due to US's unique policy of taxing based on citizenship. #FATCA
Hopefully one of those citizenships is not US citizenship because outside 🇺🇸 it’s an albatross. #FATCA #RBT
Ending double-taxation will increase competitiveness of American corporations operating abroad by leveling the playing field on the cost of posting home-county nationals into overseas assignments.
Another point to emphasize is that it makes Americans uncompetitive for overseas jobs. It is in our country's interest to have Americans holding positions overseas.
but of course it is, if you reside in Germany you pay taxes in Germany for your worldwide income, that includes US-sourced income or Guatemala-sourced income. Then the tax treaty applies (eg for real estate) and for equivalent tax figures. I don’t understand the surprise
NEW: Ending Double Taxation on Americans Abroad is Long Overdue by @michaeljhout libertyaffair.com/2024/11/19/end…
If non-US source income is no longer reportable/liable to the IRS that’s a massive victory. Think it’s disingenuous to argue otherwise. This would be a massive step away from CBT (it’s by definition not if this passes) and weaken the entire international compliance…
Many US citizens abroad honour Mr. Yue's dedication to end this atrocity. He's a huge asset to the cause. There are many ingredients needing to go into this sausage, I have faith that he & @ExpatriationLaw will do the very best they can, they are well aware of issues.
#FATCA is a reporting regime largely imposed on foreign banks and governments at HUGE expense, the thing that prevents a normal and productive life outside the US for US citizens is the US tax system.
I own property in an Asian country without a tax treaty with the United States. I lease the properties out, and I must pay income taxes to both the Asian country and the United States. I'm not eligible for the foreign earned income exclusion because I'm making the money myself,…
Killing FATCA / citizen-based expat taxation is a slam dunk. It tortures Americans abroad. Trump promised to kill it. But most importantly it costs more to administer than the revenue it takes in!
I would like to separate non-US-sourced income and US sourced income as the first step. Overseas Americans don't need to file with & pay tax to #IRS if you have non-US-sourced income only. It also means no reporting. You have to file & pay tax on your US-sourced income but…
In this KISS could mean Keep the Scoring Simple (evaluating the cost of the bill, which has been a hurdle with past related bills). Contrast to Democrat’s Tax Fairness for Americans Abroad bill citizenshipsolutions.ca/2023/09/15/bey…
Complexity such as this just keeps tax lawyer/accountant industry alive and flush with funds. Imagine what it’s like for Accidental Americans who were not born in and have never even lived in the US, but have to manage US tax laws just because 1 parent was. CBT is a bad joke.
Think that's bad? Try overlaying the entire US tax code and associated laws on the tax code and laws of your country of residence, Americans are the ONLY people in the world put in this position and the results are grotesque and un-American. Land of the free? #FATCA #CBT
Yup, if Americans in the USA think the tax code is bad, they should surely see how imperial US tax code works when inflicted on other nations taxpayers. Absolutely disastrous, tens of thousands abroad forced out of their citizenship. #FATCA
A disproportionate amount of IRS resources are required to process overseas returns, the brightest and best tied up for days to confirm zero owed. Another invisible costs is that of crippling your citizens abroad in a global market place, utterly insane. #FATCA
END Double Taxation of Americans Overseas! Currently involves the U.S. claiming tax residents of other countries {US Persons} simultaneous tax residents of the U.S. for tax purposes. 2 returns: one code on top of the other Different currency & system. x.com/profstonge/sta…
10 million words in the Tax Code -- approximately 21 LOTR trilogies. Nobody understands it but $500/h tax lawyers. But you're expected to obey every last word or they'll throw you in a cage.
& END Double Taxation on Americans Overseas! As a key part of his tax policy. #MAGA Make America Great Again is also about Make Americans Great Again where they live and work. @elonmusk @VivekGRamaswamy should END over-regulation of Americans Overseas. x.com/charliekirk11/…
Make no mistake, Donald Trump has a historic mandate to… End the woke bureaucracy Dismantle racist DEI departments Protect the innocence of children Remove men from women’s sports Close the border Deport millions of illegals Make the military great again Stop the…
My friend .@GroverNorquist, founder/president of Americans for Tax Reform already pushes ending the double taxation of 9 million overseas Americans on .@FoxBusiness Thank you, Grover. Grover and I worked together to push the same thing during President Trump's 2017 tax reform.
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Who to follow
-
SEATNow.org - Stop Extraterritorial American Tax
@SEATNow_org -
Laura Snyder
@TAPInternation -
Real #americansabroad
@AbroadSave -
JC Double Taxed 🇦🇺 🇺🇸 END Double Taxation
@JCDoubleTaxed -
AccidentallyAmerican
@AccidentallyUSC -
Essex Girl
@iowamezzo -
Mike Breen
@MikeBre14267200 -
William Ninone (aka W9)
@WNINE1 -
suzanne herman
@suzanneherman1 -
Helen Burggraf
@helenburggraf -
Amy From Sydney
@Amy_From_Sydney -
ccoste
@ccoste2 -
Monte Silver
@MonteSilver1 -
American Iron Curtain
@AmerIronCurtain -
Jenny❤️🐱🌹🐝🏴🇬🇧⚖️
@CrossBriton
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