In #FATCA and #FBAR world: “All roads lead to renunciation”, but “Not all roads lead to S. 877A Exit Tax litigation”

In #FATCA and #FBAR world: "All roads lead to renunciation", but "Not all roads lead to S. 877A Exit Tax litigation" — U.S. Citizen Abroad (@USCitizenAbroad) September 5, 2016 USCitizenAbroad says September 5, 2016 at 2:07 pm @Watcher There are at least seven possible reasons why there has not YET been a court challenge […]

Green Card Holders and #Americansabroad: “Residence”, “Long Term Residence” and the S. 877A “Exit Tax”

Originally posted on FATCA & CRS Training. Advice. Consultancy.:
Introduction (my own, not the author of the post, John Richardson). Phil Hodgen’s Expatriation Letter of the Week is based upon this concept: whether tax liability of a green-card holder depends upon residency only or whether it includes other factors to consider in order to protect…

Renouncing US citizenship? How the S. 877A “Exit Tax” may apply to your Canadian assets – 15 Parts

Originally posted on Citizenship Taxation – Theory vs. Reality:
? This is a 15-part series which is designed to provide you with some basic education on: How the U.S. S. 877A Exit Tax rules work; and   How they particularly affect Canadians with a U.S. birthplace, who lived most of their lives in Canada.  …

Thoughts on Exit Taxes in the Modern World by @VictoriaFerauge – Do the S. 877A rules go too far?

Thoughts on "Exit Taxes" – In its specfic application the U.S. tax on expatriation – the S. 877A rules – go too far. — U.S. Citizen Abroad (@USCitizenAbroad) March 24, 2015 The above tweet references a comment that appeared on post written by Victoria Ferauge on her “” blog. It is a old post […]

My eyes have seen the years – Roger Conklin: “United States has replaced Cuba as the nation with Exit Tax”

Roger Conklin passed away 11/25/14 "Some you just know are in God’s presence, and that is where Roger is now."" — U.S. Citizen Abroad (@USCitizenAbroad) November 29, 2014 With the passing of Roger Conklin, the world has lost a decent man. He was also a relentless advocate for ALL Americans and for the United […]

Michael Miller on the 877A Exit Tax – Applies Prospectively

Expats Live in Fear of Malevolent Time Machine Of relevance is the following: It should be self-evident, however, that such a result is absurd, and cannot have been intended. Congress cannot possibly have meant to treat individuals who had long since relinquished their U.S. citizenship, and whose expatriations had always been respected for federal tax […]

Sooner or later, if you have money, you must pay the U.S. – You can pay the Exit Tax now or the Estate Tax later

You can pay the Exit Tax NOW, or the Estate Tax LATER! Sir John Templeton was one of the world’s greatest investors. In 1955 he founded the Templeton Growth Fund in Toronto, Canada.  Of course, it is now a PFIC. and PFICs are  “tax cancer” for U.S. citizens. U.S. citizens who invest in it will […]

Exit tax triggered by renouncing U.S. Citizenship

More and more U.S. expats are voting with their feet and opting to renounce U.S. citizenship. Renouncing your U.S. citizenship may or may not make sense for you. If you are considering renouncing your U.S. citizenship, the question that most people ask before taking any step is: “What are the tax consequences of renouncing U.S. […]