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New IRS Voluntary Disclosure – Not a Criminal? Don’t Join! John Richardson interviews Virginia La Torre Jeker on the new - November 2018 - IRS Voluntary Disclosure Practise.

Chapter 22: To share or not to share" - Should a U.S. citizen share a bank account with a "non-citizen AKA alien spouse?

Chapter 22: To share or not to share” – Should a U.S. citizen share a bank account with a “non-citizen AKA alien spouse?

https://twitter.com/ExpatriationLaw/status/776394187516280832 This post features an interesting Facebook discussion. The reality of life for many Americans abroad is two-fold: 1. It is common for Americans abroad to marry non-U.S. citizens; 2. Americans abroad are (with few exceptions) required to report to U.S. Financial Crimes (Think Mr. FBAR) bank accounts that they either have signing…

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#alien spouse #FBAR #joint accounts

Chapter 21: How #Americansabroad can continue to use the #IRA as a retirement planning vehicle

https://twitter.com/ExpatriationLaw/status/768154242334990336 The post is referenced in he above tweet was written by Chad and Peggy Creveling and appeared in the Wall Street Journal on August 23, 2016. It is well written and very interesting. You will find some of their blog posts here. The post will NOT be of interest to “accidental Americans’ and other “long term” Americans abroad. The reason…

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#IRA #retirement planning Americans abroad

Chapter 20: The child tax credit, take it, leave it and how to take it

https://twitter.com/ExpatriationLaw/status/769266190657159168 The above tweet references an interesting Facebook discussion about the Child Tax Credit. It may be of interest to some. Here are the first few comments (should the original Facebook post be deleted). (more…)

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#child tax credit #citizenship taxation

#CBTLawSuit Donations

Thank you for recent donations from: “Tri-Colour”-Australia “Grand Soleil”-Canada July 29, 2016 Due to an exceptionally generous donor, we have forwarded $22,800 USD to our lawyer for the CBT lawsuit. This leaves a balance due of $2200 USD in order to procure the legal opinion for the lawsuit.

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Chapter 19: Is it better to take the "Foreign Tax Credit" or the "Foreign Earned Income Exclusion" - a discussion

Chapter 19: Is it better to take the “Foreign Tax Credit” or the “Foreign Earned Income Exclusion” – a discussion

Even for a basic U.S tax return, I have often said that: Two different tax preparers could produce five different U.S. tax returns. Have a look at the following discussion to see why. https://twitter.com/CitizenshipTax/status/648062148405526528 The above tweet references the following Facebook discussion. You will have to log in to your Facebook account to read it live. But here is what was…

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#Foreign earned income exclusion #Foreign Tax Credit

Chapter 18: I don't pay taxes in the country where I live. Can I "exclude" from foreign income from the U.S. tax return?

Chapter 18: I don’t pay taxes in the country where I live. Can I “exclude” from foreign income from the U.S. tax return?

The short answer is, as long as it is “earned income”, kind of YES!!! It’s about the S. 911 of the Internal Revenue Code Foreign Earned Income Exclusion or the “FEIE” for short If you live in a country that does NOT impose income taxation at all, or you just want a very simple filing situation, read on! The “Foreign Earned Income Exclusion” – For those who are NOT interested in claiming tax…

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#Foreign earned income exclusion #Form 2555 #Form 2555EZ

Chapter 17: How to get "credit" for taxes (foreign) paid to your country of residence

Chapter 17: How to get “credit” for taxes (foreign) paid to your country of residence

The United States will give you “some” but NOT all credit for non-U.S. taxes paid to your country of residence. In other words, you will NOT get credit for all taxes paid to your country of residence. In order for you to get “credit” for a tax paid to your country of residence it must be recognized as a “tax” under U.S. law. Even then, then you may or may not get credit for the “tax” paid.…

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#Foreign Tax Credit #form 1116

Chapter 16: Most "Form Crime" penalties can be abated if there is "reasonable cause"

Chapter 16: Most “Form Crime” penalties can be abated if there is “reasonable cause”

This will be the shortest chapter. I am certain that after having read Chapter 15 about “Form Crime” and the possible penalties (usually $10,000 a form”) you will want to know how get “Form Crime Relief”. Speaking of $10,000 – the “Standard Form Crime Penalty” https://twitter.com/ExpatriationLaw/status/757338635012300801 It is important for you to know that: – “reasonable cause” does exist as a…

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#delinquent information return #Form crime #reasonable cause

Chapter 15: To be "FORMWarned is to be "FORMArmed" - It's "FORM Crime" stupid!!

Chapter 15: To be “FORMWarned is to be “FORMArmed” – It’s “FORM Crime” stupid!!

Introduction … Since writing the draft of this post, I have written a separate post: https://twitter.com/ExpatriationLaw/status/757228361060081664 Forms and the life of an American citizen … https://twitter.com/ExpatriationLaw/status/639141061877727232 (more…)

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#Delinquent International Information returns #Form 3520 #Form 5471 #Form 8938

Chapter 14: The Obamacare "Net Investment Income Tax" - Pure double taxation of #Americansabroad

Chapter 14: The Obamacare “Net Investment Income Tax” – Pure double taxation of #Americansabroad

Introduction … Looking for the Net Investment Income Tax … The argument for why Americans abroad are required to pay the Obamacare surtax AND why foreign tax credits cannot be applied to offset the tax (more…)

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#Net Investment Income Tax #Obamacare and Americans abroad

Chapter 13: "married filing separately" and the "Alien Spouse" - the "hidden tax" on #Americansabroad

Chapter 13: “married filing separately” and the “Alien Spouse” – the “hidden tax” on #Americansabroad

Marriage is a difficult relationship. That said, there are two kinds of marriages that have particular difficulties to “circumstances of birth”. Type 1 – A U.S. citizen married to a non-U.S. citizen Type 2 – A non-U.S. citizen married to a U.S. citizen I call these kinds of marriages an “FBAR Marriage”. The problems of the “FBAR Marriage” begin with filing a tax return at all. See the posts…

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Chapter 12: Relinquishing citizenship and your IRA - bringing your IRA home

Chapter 12: Relinquishing citizenship and your IRA – bringing your IRA home

Are you living outside the United States? Are you thinking about relinquishing U.S. citizenship? Do you have an IRA or other retirement planning account in the United States? Are you wondering about the effect of relinquishing U.S. citizenship has on your IRA? This post will be for you! Coming soon! In the interim, if you wish a consultation feel free to contact me. John Richardson

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#IRA #renounce US citizenship

Chapter 10: Paying into Social Security - #Americansabroad, double taxation and the payment of "Self-employment" taxes

Chapter 10: Paying into Social Security – #Americansabroad, double taxation and the payment of “Self-employment” taxes

Introduction: https://twitter.com/ExpatriationLaw/status/756830154048016384 The article reference in the above tweet includes: Although 25 countries have signed a bi-national social security agreement (what the IRS calls a Totalization Agreement) with the U.S. that prevents double taxation of income with respect to social security taxes, Morocco isn’t one of them. In fact, not one country in the…

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#social security tax #totalization agreement

Chapter 9: Receiving U.S. Social Security - #Americansabroad and entitlement

Chapter 9: Receiving U.S. Social Security – #Americansabroad and entitlement

Introduction: https://twitter.com/ExpatriationLaw/status/639025403563241472 The above tweet references the following comment on a Wall Street Journal article: Social Security is a separate program that people “pay into” every year. In return for “paying in” the U.S. agrees to “pay out” when he reaches a certain age. How is his citizenship or residence in any way related to that? Self employed…

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Judge Rose dismisses @FATCALawsuit: rules that "case is hereby TERMINATED" - Any harm NOT caused by USG but by foreign banks!

Judge Rose dismisses @FATCALawsuit: rules that “case is hereby TERMINATED” – Any harm NOT caused by USG but by foreign banks!

cross-posted from ADCSovereignty blog Chronology of events … On July 14, 2015, a post at the Isaac Brock Society, detailed the pleadings in the @FATCALawsuit. In late summer, @FATCALawsuit brought a motion for a preliminary injunction to enjoin the effects of FATCA on Americans abroad. The Obama administration defended the “injunction application” (in part) on the basis that any harm to Americans…

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ADCT Submission to House Ways & Means Committee March 21, 2016

ADCT House Ways & Means Submission March 21, 2016 March 20, 2016 Charles Boustany Chairman, House Ways and Means Tax Policy Subcommittee Re: “Fundamental Tax Reform Proposals” Dear Representative Boustany: This letter is a response to your 2016 request for “Fundamental Tax Reform Proposals”. RECOMMENDATION: My single recommendation, made on behalf of our organization (see below) is that…

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