U.S. Law Affecting Americans Living And Working Abroad

Introduction …Assuming the correctness of the AI interpretation of the report (it is reasonably accurate) it’s important to recognize that the report is based on the state of the world in 1980. This means that it is based on a world BEFORE:* FBAR enforcement AKA The Obama/Biden “FBAR Fundraiser”* the creation of the PFIC rules in 1986 (Reagan tax reform)* Obama/Biden FATCA in 2010* the Clinton Treasury Foreign Trust rules of 1996* the Clinton Entity classification regulations of 1996* the Obama OVDI/OVDP programs beginning in 2009* Trump administration Transition Tax/GILTI rules of 2017Note that EVERY ONE of these things is the result of U.S. citizenship taxation.The ONLY solution is a complete separation/severance of citizenship from tax residency. Hate to say it, but there is NO OTHER option.(To conclude that the USA has a hatred for its citizens abroad would be an understatement.)__________________________________________________________________The Carter report was … “A legislative effort by Senator George McGovern required the President to conduct a thorough study of laws governing U.S. citizens abroad. This report by President Jimmy Carter was the first under that law - a painstaking review of the many legal provisions affecting U.S. citizens residing abroad. Issues include loss of citizenship by children born abroad, income tax, social security, veterans benefits and many other matters - and very little has changed since this report was written, so this is still a valuable legal guide for any American taking up foreign employment or residence.”AI Summary of the book:🌎 Americans Abroad: Laws and Issues 1 source The primary source is a 1980 document containing letters and reports regarding how U.S. law impacts American citizens living and working abroad, stemming from a congressional mandate for the President to identify discriminatory statutes. It includes an initial presidential report from 1979 detailing specific federal provisions perceived as unfair in areas like citizenship, veterans' benefits, and social security. The document further contains responses and concerns from American Citizens Abroad (ACA), highlighting numerous perceived inequities and competitive disadvantages faced by overseas Americans, particularly concerning taxation. Additionally, it features a report from the President's Export Council focusing on the detrimental effects of U.S. tax policy on Americans working overseas and its impact on American exports. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit expatriationlaw.substack.com