EXPATRIATION COPESTHESIA CONSULTANTS™
Are you worried about:
-
Foreign banking and financial restrictions, the loss of accounts abroad, the inability to open new foreign
accounts because you are a U.S. citizen
- FBAR, FATCA, IRS form 8938, dual tax treaty and other onerous filings
- The forced and uncertain reporting of your financial information by foreign institutions and
governments to the United States, and other significant privacy invasions
- Banks abroad acting as I.R.S. agents and/or freezing accounts of U.S. citizens
- Higher taxation and double taxation - paying tax to the country you work and/or live in as well as to the
United States
- Forced foreign-exchange conversions in tax accounting resulting in phantom tax owed
- Significant losses due to restrictions barring U.S. citizens from using offshore investment vehicles and
financial intermediaries
- Limited access to financial institutions in the United States because you have a foreign address; inability
to invest in certain funds in the United States.
- Professional hindrances abroad because of U.S. citizenship: An inability to sign on company accounts;
firms' need to compensate you because you pay additional taxes, and more
- Marital issues: The entanglement of non U.S. spouses and their incomes and assets in U.S. expat
taxation; the threat that non - U.S. spouses' assets could be seized
- The risk that the U.S. government will summarily freeze or seize your U.S. - based assets
- The possibility that the U.S. government will block your passport for alleged tax compliance reasons
- Other forms of harassment
- Travel restrictions on U.S. passport holders
- A lack of U.S. political representation for Americans living abroad
And do you fear that the future may hold:
- Higher income and estate taxes
- Ruined retirement plans
- Elimination of the Foreign Earned Income Exclusion
- Gross, confiscatory and mandatory expatriation taxes
- Ratcheted-up penalties for violations of extensive and intrusive filing requirements
- Confiscation of gold, silver and other investment holdings
- Forced purchases of U.S. Treasuries and the like to pay for the enormous U.S. national debt
- Currency controls in the United States
- Broader I.R.S. licensure of U.S. tax preparers abroad (who would be required to tattle on clients)
- The continuing erosion of attorney-client privilege
- Exit visas from the United States for Americans who reside abroad
- The elimination of Americans' legal right to hold second citizenships
- Modifications of U.S. expatriation laws to make them more difficult, expensive and time-consuming
- The implementation of the Reed Amendment, or similarly forced labeling of all expatriating U.S. citizens as tax-avoiders
- A requirement that Americans must come to the United States to renew their passports
- A requirement that passport renewals be accompanied by sworn, intrusive and comprehensive financial questionnaires
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