citizenshipsolutions

[citizenshipsolutions]

Schwarzbaum - FBAR Penalties ARE Subject To The "Excessive Fines Clause"

Prologue – U.S. Citizenship And The Tax, Form and Penalty Club U.S. citizens are members of the world’s premier “tax, form and penalty club”. The law of Mr. FBAR is a testament to the American penchant for imposing penalties for various “form crimes”. One of most interesting issues is whether there are constitutional limits to the penalties that can be imposed for failing to file an FBAR. The…

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Schwarzbaum - Willfulness In A Civil FBAR Penalty vs. Willfulness In A Criminal FBAR Penalty

Two kinds of “willful” FBAR penalties: Generally both “civil” and “criminal” FBAR penalties can be asserted. Conviction of a “criminal FBAR penalty” an result in incarceration. Willful FBAR Penalty 1 – The Civil Willful Penalty – 31 U.S.C. 5321(a)(5)(c) 31 U.S. Code § 5321 – Civil penalties (C) Willful violations.—In the case of any person willfully violating, or willfully causing any violation…

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Department Of States Introduces New Renunciation Form And Processes Effective November 1, 2024

The “Readers Digest” Version Towards the end of October of 2024, the following comment appeared online: ‘Just renounced in Rome this afternoon. Very smooth, professional, friendly. I was asked why by the consular officer but the office person who did all the work was extremely helpful and did not ask why I decided to do it. It should take 2-3 months to get my CLN. Maybe even less. One thing the…

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Part 4 Notice 2023-11: Relief For Foreign Banks And The Hunt For Americans Abroad Extended For An Additional Three Years By Notice 2024-78

Prologue and introduction: October 24, 2024 -Letter to Americans abroad from Kamala Harris In a letter addressed to Americans abroad Vice President Harris said that she takes the concerns of US citizens overseas seriously, “whether it’s improving access to consular services, addressing the complex challenges you face with banking, taxation, and financial services, or ensuring equal treatment in…

[citizenshipsolutions]

Canada's Post Graduate Work Permit - The Best Citizenship By Investment Program Around!

Purpose and summary … Most young adults are interested in pursuing some kind of college or university degree. Although may will pursue this in their home country, many people see the value of studying abroad. Why not combine some cross cultural experience with your educational experience? For some time the Government of Canada has offered a “Post Graduate Work Permit” for graduates of certain…

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Republicans Overseas Announces President Trump Announces To End Double Taxation Of Americans Abroad

October 2, 2024 Republicans Overseas today announced that former President Donald Trump wishes to end the double taxation of Americans abroad! Further details to follow … For the moment, please reference the following tweets: For many years @SolomonYue of @RepOverseas has worked toward ending the @doubletaxation of #Americansabroad. Today he announces progress … https://t.co/Iv9rXdicmm — John…

[citizenshipsolutions]

New Travel Requirements For Canadian and U.S. Citizens To Enter Either Europe Or The UK

Summary: In 2025 citizens of either Canada or the United States (and citizens of many other countries) will require an electronic travel authorization (similar to the US ESTA) to enter the country. This short post is simply to: 1. Alert you to these upcoming requirements; and 2. To point you to the right websites for information. In general you will be required to pay a nominal fee, enter your…

[citizenshipsolutions]

Separating Citizenship From Tax Residency: The Republicans Overseas Tax Proposal

In 2024 the Republicans Overseas Tax Committee created the following proposal for separating U.S. citizenship from U.S. tax residency. The proposal is three parts which are: 1. A Legislative Fix – changing who is a tax resident from “individual” to “resident”. 2. A Regulatory Fix – changing the regulation to define “individual”in the Internal Revenue Code to mean “resident” 3. A Treaty Fix –…

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Canada's new "citizenship by descent" law will benefit many U.S. citizens in unanticipated ways

Introduction and purpose of this post https://x.com/ParvizMalakouti/status/1836492693826081022 In response to a 2023 Canadian court decision the Government of Canada is enacting a new law which will create an opportunity for certain U.S. citizens to become Canadian citizens at birth. Not only will this give them the usual benefits of citizenship (right to live and work in Canada), but it will…

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Expanding eligibility for Canadian citizenship: Bill C-71 opens up a possible never-ending chain of citizenship

Bill C-71 opens up a possible never-ending chain of citizenship by Policy Options. Originally published on Policy Options July 8, 2024 Bill C-71 sets out to allow Canadians to pass on their citizenship to any of their children born abroad past the first generation and expands “Lost Canadians” to cover a much larger number than before. It is fraught with potential unintended consequences. The bill…

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Town Halls: @RepOverseasTax Introduces Its Tax Proposal For Americans Abroad And Invites Discussion

There are two sessions coming up – both on X.com Tuesday September 17: North America https://twitter.com/RepOverseasTax/status/1834257645886177584 https://x.com/RepOverseasTax/status/1834257645886177584 Rest Of World Set a reminder for my upcoming Space! https://t.co/1kIvy7YJyK Join us to discuss our RBT proposal! — RepOverseasTax (@RepOverseasTax) September 12,…

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Instructions For Those Who Have A NEXUS Card And Are Renouncing U.S. Citizenship

Introduction and purpose Everything you need to know about NEXUS and Global Entry, but didn't know you should ask. https://t.co/YYIXx5ZvMx — John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) August 28, 2024 I continue to assist many people with the relinquishment and renunciation of their U.S. citizenship. Many of the people who I assist live in Canada and have NEXUS cards…

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"Saving Clause" In U.S. Mexico Tax Treaty Informs Meaning Of "Renounced U.S. Citizenship For The Purpose Avoiding Taxation By The United States (Reed Amendment)"

Summary and purpose: This post is a continuation of my posts about the “saving clause” in U.S. tax treaties. For an introduction to the “saving clause” see: Croatia Agrees To Allow The US To Impose Tax, Forms And Penalties On Its US Citizen Residents This post will also identify how the 2003 Protocol to the U.S. Mexico tax treaty makes expatriation with an “intention to avoid taxation”, relevant…

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Moving From Canada To The USA? If You Owe Money To The Canada Revenue Agency - Will The IRS Collect For Canada?

A quick post based on the following tweet … CDN citizen moves to US with outstanding CDN tax debt. US collects tax debt for Canada under treaty. But, if the CDN had dual CDN/US citizenship then the treaty would preclude the US from assisting Canada. Worth remembering if considering renunciation. https://t.co/StMrGCPaIS — John Richardson – Counsellor for US persons abroad (@ExpatriationLaw)…

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Renunciation of U.S. Citizenship And Taxation Of U.S. Social Security Benefits

Keeping it shot and sweet … Yesterday I had a conversation about renouncing U.S. citizenship. The personwas living almost entirely on U.S. Social Security benefits. The individual had not considered how renunciation (becoming a nonresident alien for U.S. tax purposes) might affect the U.S. taxation of Social Security benefits. In many cases renouncing U.S. citizenship (or abandoning the Green…

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US Tax Residency For Canadian Snowbirds: First You have It! But On Closer Connection You Don't

Question For Americans Abroad: Did you know that you can renounce your U.S. citizenship and then live up to 182 days in a year in the United States and not be taxable by the United States or have to file forms (including FBAR)? Read on!! – it’s all about having a “closer connection” to another country! Introduction – What is tax residency? Tax Residency – Who is subject to taxation? Individuals…

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All U.S. citizens relinquishing U.S. citizenship are required to be reported in the Federal Register "Name And Shame" list

Purpose of this post: The "Name And Shame List". The Federal Register publishes a list of some but not all of the names of individuals who renounced U.S. citizenship. What does if mean when someone is on the list? Is inclusion on the list a sign of wealth? Check it yourself! https://t.co/D8QOwzPzrZ pic.twitter.com/rFgz6ACtXx — John Richardson – Counsellor for US persons abroad (@ExpatriationLaw)…