The Good, The Bad and The Ugly: SEAT Analyzes Beyer HR 6057 - Is It Really Tax Simplification For Americans Abroad?

<p>November 24, 2021 - Participants Include:</p> <p>Dr. Laura Snyder - <a href='http://www.twitter.com/tapinternation'>@TAPInternation</a></p> <p>Dr. Karen Alpert - <a href='http://www.twitter.com/fixthetaxtreaty'>@FixTheTaxTreaty</a></p> <p>John Richardson - <a href='http://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p>___________________________________________________</p> <p>On November 19, 2021 Congressman Beyer introduced HR 6057, the "Tax Simplification For Americans Abroad Act". This bill was the subject of two blog posts at:</p> <p>- <a href='https://seatnow.org/2021/11/22/the-expansion-of-the-feie-is-the-strengthening-of-citizenship-tax/'>SEATNow.org</a></p> <p>- <a href='https://citizenshipsolutions.ca/2021/11/21/the-beyer-tax-simplification-for-americans-abroad-act-a-first-look/'>CitizenshipSolutions.ca</a></p> <p>You can read the text of the bill <a href='http://citizenshipsolutions.ca/wp-content/uploads/2021/11/Tax-Simplification-for-Americans-Abroad-Act-of-2021.pdf'>here.</a></p> <p>___________________________________________________</p> <p>In this podcast we discuss the groups affected (or not) by this bill as follows:</p> <p>The Good: Those with income of below $108.000 who are NOT the owners of CFCs.</p> <p>The Bad: Those with incomes in excess of $108,000 who are NOT the owners of CFCs.</p> <p>The Ugly: Entrepreneurs abroad who own CFCs.</p> <p>We are of the view that should it become law that the primary effect would be to divide Americans abroad even more.</p> <p>We firmly believe that:</p> <p><a href='http://seatnow.org/2021/07/18/begin-with-the-end-in-mind/'>Pure residence-based taxation</a> is the ONLY solution that solves the problem for ALL people ALL the time!</p> <p>No left outs! No carveouts! We advocate PURE RESIDENCE-BASED TAXATION FOR ALL!</p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p>