More on “PFICs” and their Complications for USCs and LPRs Living Outside the U.S. -(What if there are No Records?)

Your conclusion is: “All of these tax compliance rules begs a very important question for a USC who is considering renouncing their U.S. citizenship. The issue arises if they have had investments in PFICs during the last five years. “If the USC has not been complying with IRC Section 1297 regarding PFICs, how can the […]


Coming soon: The #PFIC Memorial in Washington, DC

Future generations will visit the #PFIC memorial in Washington – a monument to the destruction of #americansabroad — U.S. Citizen Abroad (@USCitizenAbroad) April 24, 2013 I have never met a Homelander who would believe the story referenced in this tweet. Q. What do the U.S. and Eritra have in common? A. They both terrorize […]

The Sun Life Betrayal Part 2 – The possible consequences of pension plans being PFICs

Prologue: If you are a US citizen or permanent resident and have been living and working outside the US and investing your savings through a non-US financial institution, you need to learn what a Passive Foreign Investment Company (PFIC) is very quickly. Why? Because the passage of the Foreign Account Tax Compliance Act (FATCA) in […]

How citizenship-based taxation steals from the treasury of other countries: PFIC Edition

The following comment was on the ACA Facebook page: I say with every ounce of facetiousness I can muster up: Every government of the world should stop letting Americans come to reside in their country. Eventually the ones that have slipped in before the draw bridge was raised will die off, leaving each country sanitized […]

#Americansabroad: “Ask NOT what the Homeland can do for you! Ask what you can do for the Homeland!

What follows is the full text of the Facebook post referenced in the above link. Really now, it’s time to understand that taxation is NOT the price you pay for Government services (or certainly not civilization). It’s something you are required to pay to support the Homeland. Homelanders abroad, Accidental Americans and other dual citizens, […]

It’s time for Canada to cede sovereignty and unilaterally seek Trump approval of the NAFTA Treaty

Because of Obama Bromance, Trudeau wants Canadian sovereignty to be a relic of the past (perhaps a past that included the years PET was PM) — U.S. Citizen Abroad (@USCitizenAbroad) November 15, 2016 Justin Trudeau’s pre-emptive decision to tell one of the planet’s most voracious deal-makers that Canada is willing to renegotiate the North […]

Cook v. Tait 19: Q. How are #Americansabroad taxed by the US? A. What country do they live in?

Why should the taxation of #Americansabroad depend on which country they emigrate to? – Canada vs. New Zealand — U.S. Citizen Abroad (@USCitizenAbroad) February 7, 2015 The above tweet references the following  comment at Robert Wood’s blog. The comment includes: Tax loopholes? You must be joking Robert! Pity the poor US Slave (sorry, Citizen) […]

Possible benefits of the coming into U.S. tax compliance through the Streamlined program?

This post originally appeared at the Isaac Brock Society. Updated November 3, 2014 – Readers are strongly encouraged to read the comments as well. One must remember that Streamlined and OVDP are programs which have been invented by the IRS. They are not found in the Internal Revenue Code. Consequently this post should be read […]

The two kinds of cash deposits that can lead to account seizures in the USA

"But, ain't that America – home of the free – ain't that American – something to see" — U.S. Citizen Abroad (@USCitizenAbroad) October 26, 2014   Law Lets I.R.S. Seize Accounts on Suspicion, No Crime Required – actually nothing whatsoever is required. — U.S. Citizen Abroad (@USCitizenAbroad) October 26, 2014 Confiscation of assets […]

#Americansabroad are not tax evaders. The U.S. is a tax invader

#Americansabroad are not tax evaders. The U.S. is a tax invader and that's a #FATCA — U.S. Citizen Abroad (@USCitizenAbroad) August 18, 2014   What follows is a comment ot a rencent Robert Wood post. This is a “must read”. UrbanNomad 21 hours ago I was born in California to foreign parents who were […]