March 21, 2023 - Participants include:
Virginia La Torre Jeker - @VLJeker
John Richardson - @Expatriationlaw
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The United States is determined to get its tax revenue. The U.S. Internal Revenue Code has provisions that:
Prohibit People From Leaving The Country For Tax Related Reasons
Examples include:
- Passport confiscation laws for citizens
- A requirement of a tax certificate for non-citizens ("Sailing Permit")
Take Control Over People's Money If They Are Neither Citizens Nor Residents
Examples include:
- withholding taxes generally
- FIRPTA
- Estate taxes on US Situs assets ($60,000 USD threshold).
Make it difficult for U.S. citizens to access their money in the United States if they are living outside the United States
Example includes:
- various filing requirements that apply to Americans abroad that do NOT apply to resident Americans
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In today's podcast Virginia La Torre Jeker and John Richardson discuss the "sailing permit" AKA the mechanism designed to prohibit non-citizens from leaving the United States. Read more here: