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On Receiving my Certificate of Loss of Nationality

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Re: On Receiving my Certificate of Loss of Nationality

#91

Post by crumpled »

KennyBlanken wrote: post #35
voisin wrote: post #16

The conversation here at this moment seems to be focused solely on whether or not it is complicated or costly to keep filing US taxes. This misses the point in that the US is the _only_ developed country to impose worldwide taxation on its citizens regardless of where they live. The only other country to do so is Eritrea and the US has routinely criticized them for doing so. Moreover, it makes expats ineligible for c…

Some of her points are valid but the melodrama drawing analogies to stress from the death of a spouse, describing nearly breaking into tears every so often, and describing the consequences of her actions as something "done to her" are absurd.

This comment has a sexist smell. I wonder if the same criticism would be leveled at an identical story written by a man.

Obviously, I have no idea what goes on in other peoples heads.

Re: On Receiving my Certificate of Loss of Nationality

#92

Post by rossdavidh »

Not claiming that I know enough about FATCA to comment in an informed way, but Patrick Boyle did a recent video on the Pandora Papers, which has a brief discussion about FATCA and how it compares to other nations' laws, around the 21 minute mark: https://www.youtube.com/watch?v=INRs9rnciyI

Re: On Receiving my Certificate of Loss of Nationality

#93

Post by wrs »

KennyBlanken wrote: post #35
voisin wrote: post #16

The conversation here at this moment seems to be focused solely on whether or not it is complicated or costly to keep filing US taxes. This misses the point in that the US is the _only_ developed country to impose worldwide taxation on its citizens regardless of where they live. The only other country to do so is Eritrea and the US has routinely criticized them for doing so. Moreover, it makes expats ineligible for c…

Some of her points are valid but the melodrama drawing analogies to stress from the death of a spouse, describing nearly breaking into tears every so often, and describing the consequences of her actions as something "done to her" are absurd.

Most people are strongly emotionally attached to their home country. Not sure why you would expect the breakup to be low-stress and unemotional.

Re: On Receiving my Certificate of Loss of Nationality

#94

Post by elefanten »

crumpled wrote: post #91
KennyBlanken wrote: post #35

Earlier quoted context omitted.

Some of her points are valid but the melodrama drawing analogies to stress from the death of a spouse, describing nearly breaking into tears every so often, and describing the consequences of her actions as something "done to her" are absurd.

This comment has a sexist smell. I wonder if the same criticism would be leveled at an identical story written by a man. Obviously, I have no idea what goes on in other peoples heads.

This comment has a blindered, dogmatic smell.

If the only tool you have is a hammer…

Re: On Receiving my Certificate of Loss of Nationality

#95

Post by gumby »

xxpor wrote: post #59
andylynch wrote: post #29

Earlier quoted context omitted.

If you’re a US citizen living in another country you’ll find many banks and financial institutions decline to have you as a client because dealing with FATCA makes it far more trouble than it’s worth. No other developed country makes similar demands.

And yet the pandora papers aren't getting much coverage in the US because there aren't that many Americans named in them. Gotta wonder if the two are connected.

Actually the US has many ways to hide your assets (just looks at the South Dakota trust system). Look at the pandora papers and you'll see a lot of people hiding their assets in the uSA.

Re: On Receiving my Certificate of Loss of Nationality

#96

Post by Dudeman112 »

crumpled wrote: post #91
KennyBlanken wrote: post #35

Earlier quoted context omitted.

Some of her points are valid but the melodrama drawing analogies to stress from the death of a spouse, describing nearly breaking into tears every so often, and describing the consequences of her actions as something "done to her" are absurd.

This comment has a sexist smell. I wonder if the same criticism would be leveled at an identical story written by a man. Obviously, I have no idea what goes on in other peoples heads.

Honestly? It would be worse if they were a man.

People don't take kindly to men being "weak".

Re: On Receiving my Certificate of Loss of Nationality

#97

Post by andrewaylett »

jaywalk wrote: post #75
Hamuko wrote: post #66

Earlier quoted context omitted.

Because she didn't owe any. And yet, she had to pay thousands out of pocket to prove it to the US government that she didn't owe any taxes and they still basically monitor her like a tax dodger (because obviously all Americans abroad are dodging taxes, right?).

If I don't owe the IRS anything, I don't get to just do nothing and be alright.

While, at least in general, if a Brit doesn't owe HMRC anything then that's exactly what they do.

Re: On Receiving my Certificate of Loss of Nationality

#98

Post by davidw »

Rapzid wrote: post #55
voisin wrote: post #16

The conversation here at this moment seems to be focused solely on whether or not it is complicated or costly to keep filing US taxes. This misses the point in that the US is the _only_ developed country to impose worldwide taxation on its citizens regardless of where they live. The only other country to do so is Eritrea and the US has routinely criticized them for doing so. Moreover, it makes expats ineligible for c…

In practice the 2021 108k per person foreign earned income exclusion is reasonably large and uncomplicated to claim. After that the list of countries we have tax treaties with is pretty large: https://taxsummaries.pwc.com/united-states/individual/foreig...

As someone who lived in Italy for years, it is a total hassle to file US taxes, because you need an accountant that gets all this, and most in the US do not.

I agree with her that the system is really bad. We're in the US now, and my Italian wife has none of these hassles: we live in the US and pay taxes in the US and that's that as far as Italy is concerned.

Re: On Receiving my Certificate of Loss of Nationality

#99

Post by gumby »

welder wrote: post #68

As a US citizen, being taxed while living abroad can dangerously trigger double taxation. Imagine being taxed 70% of your income... scary! I've been researching ways to live abroad without being double-taxed, and here's some resources I've found: * https://www.greenbacktaxservices.com - give them your foreign tax return and they file your US return * https://wandererswealth.com - international tax consultant * https:…

I have no idea why you might be downvoted, but it's extremely unlikely you'll end up owing more than 100%.

I'm not an accountant but having filed multi-jurisdiction tax returns myself I don't see a mechanism by which this could happen.

Re: On Receiving my Certificate of Loss of Nationality

#100

Post by marstall »

nicolas_t wrote: post #81
colechristensen wrote: post #37

Earlier quoted context omitted.

But like wouldn’t you be fine once you found one?

No, even if you can open a bank account as a US citizen, most services will be restricted. If you want to get a life insurance, they won't have anything for you, if you want to open an investment account, same issue, etc... So, first it's difficult to find banks that'll even accept US citizens and then once you do, it can still be very restrictive.

that does sound like a hassle.
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