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United States Dual Citizens Receive Punitive Tax



Attention Please

We bring your attention to the commentary on the post this week  written by John Richardson of Citizenship Solutions in Toronto, Canada called “The United States Imposes A Separate And Much More Punitive Tax On U.S. Citizens Who Are Residents Of Other Countries”.

We appreciate the commentary to Johns post and ask our readers to add their own stories to educate the public of the impact of these laws have on dual citizens. The real financial impact is causing hardship and stress for many Americans who live and reside in other countries and have done so for years.

You can read the story and commentary at this link.

 

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The Reality of U.S. Citizenship Abroad

My name is John Richardson. I am a dual citizen. I am a lawyer – member of the Bar of Ontario. This means that, any counselling session you have with me will be governed by the rules of “lawyer client” privilege. This means that:

“What’s said in my office, stays in my office.”

I am also a member of the American Citizens Abroad Professional Tax Advisory Council (PTAC). This is an advisory panel focused on assisting American Citizens Abroad in an FBAR and FATCA world.

The U.S. imposes complex rules and life restrictions on its citizens wherever they live. These restrictions are becoming more and more difficult for those U.S. citizens who choose to live outside the United States.

FATCA is the mechanism to enforce those “complex rules and life restrictions” on Americans abroad. As a result, many U.S. citizens abroad are renouncing their U.S. citizenship. Although this is very sad. It is also the reality.

5 thoughts on “United States Dual Citizens Receive Punitive Tax

  1. Avatar Linda says:

    FATCA ruins lives of overseas Americans… can’t get banking services and compliance fees can wipe you out… renounced to keep from ending up on the street… indescribably sad

    • Yes, FATCA ruins the lives of Overseas Americans. But, FATCA also ruins the lives of people who do not even consider themselves to be American. These people are “accidentals” – citizens and residents of other countries – who may have left the USA after having born.

      One might ask: What does this imply about the meaning of U.S. citizenship?

      Anyway, you are fortunate you had the opportunity to renounce. There are many who can’t afford the fees to renounce.

    • It is no longer certain that Green Card holders will take out U.S. citizenship. But, in some cases they are forced to become U.S. citizens in order to move away from the USA and not be forced to pay the Section 877A exit tax. But, if they become U.S. citizens and then move away they are forced to live under the discriminatory rules that affect Americans abroad.

  2. Avatar Graham Astley says:

    Why isn’t it just accepted that the US government doesn’t like it’s citizens leaving the US to live elsewhere and punishes them this way so that others may be dissuaded from doing the same. “The Land of the Free,” sure if you live
    there but not if you leave. Any foreigner moving to the US is crazy
    to take out US citizenship if they don’t have to

    • It is no longer certain that Green Card holders will take out U.S. citizenship. But, in some cases they are forced to become U.S. citizens in order to move away from the USA and not be forced to pay the Section 877A exit tax. But, if they become U.S. citizens and then move away they are forced to live under the discriminatory rules that affect Americans abroad.

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