When are you no longer a US taxpayer (relinquishment after 2004)

When are you no longer a US taxpayer (relinquishment after 2004)
Hello, This is Olivier Wagner from 1040 Abroad. This week’s question is: If you live outside the U.S. and relinquished US citizenship by performing an expatriating act after June 3, 2004, but failed to inform the Department of State are you still a U.S. taxpayer? Answer Yes. In 2004, IRC sections 7701(50) and IRC section ...

On my way to Portland, OR – and sourcing under the US-Canada tax treaty

On my way to Portland, OR - and sourcing under the US-Canada tax treaty
Hello from the Amtrak bus, This is Olivier Wagner from 1040 Abroad. I am going from Vancouver, BC Canada to Portland, OR United States. If you are going to Pioneer Nation, let me know, I’ll buy you a drink, also I’ll be in DCBKK (Dynamite Circle conference in Bangkok), same deal, let’s meet up. Nice bus ...

Unfairness to the self-employed accidental American

As a quick follow-up to yesterday’s post, the greatest unfairness again occurs to the accidental American who realizes after the fact his/her status of a US citizen self-employed in a country without a Social Security totalization agreement with the US. In order to relinquish US citizenship without becoming a covered expatriate, he/she would have to ...

Should a digital nomad, or other self-employed US citizen working abroad, pay social security taxes? 1

As we saw yesterday, such people have a choice to pay social security taxes or not. First of all, let me say that skipping social security taxes is not a way to build wealth, the way to build wealth is to generate more revenue. But, what if instead of skipping it, our self-employed person was ...

Do US citizens living outside the US have to pay into the US Social Security System? 1

This is particularly of interest for “digital nomads” and other self-employed people who have freedom in the way they arrange their employment or self-employment. For those living in countries with a Social Security Totalization Agreement US citizens living in these countries would only have to pay into the Social Security system of only one country. ...

IRS Customs Hold

I’ve seen much talk in the community of American abroad about the ability to of the IRS: To prevent the issuance of a passport to delinquent taxpayers (currently not true, but when applying for a passport, the Department of State will inform the IRS of the address you provided). Interestingly enough, the Department of State ...

200,000 Saudi US citizens liable to pay US taxes

200,000 Saudi US citizens liable to pay US taxes
As seen on Arab News More than 200,000 Saudi citizens with dual US citizenship are liable to pay taxes under US taxation laws, according to academics at King Abdulaziz University (KAU) in Jeddah. Such laws have prompted scores of people with dual nationality around the globe to give up their US citizenship. In fact, relinquishing ...

More and more Americans give up their citizenship, 2014 is on track to be a record year

More and more Americans give up their citizenship, 2014 is on track to be a record year
  A significant number of people continue to surrendered their US citizenship or terminate their “long-term US residence” (for green card holders). There are 776 names on the list that the Treasury Department released Friday for the third quarter of 2014. That’s the third highest quarterly figure ever. The total number of ascetics published to ...

The comment period for the fee increase for renunciations is still open …

… until Oct 21 As originally see on the Isaac Brock Society’s post Have you made voiced your concerns re the U.S. Department of State Renunciation Fee Hikes @ http://www.regulations.gov? Could I suggest that Brockers make comments at the following link. http://www.regulations.gov/#!documentDetail;D=DOS_FRDOC_0001-2956 Comments on the fee-hikes for consular services are being accepted until Oct. 21. I ...

Renunciation fee increase

To bring back the subject of the renunciation fee increase back to the forefront, Want to get rid of U.S. citizenship? Fee just quadrupled – to $2,350, I add another article, today, from the U.S. — Wall Street Journal, Laura Saunders, August 30th: U.S. Fee to Drop Citizenship Is Raised Fivefold. Commenting is open and comments have started. ...