IRS is just another mechanism and supporter of capitalism who defend the interests of economic elites. If this isn't true, why do most who work for them make nearly or over six figures, while the poor they target make only survival? It's just a part of the whole capitalist agenda.

What prevents law enforcement from absconding with undetermined amounts of cash from anyone regardless of the amount? (You're pulled over with $6K and you have a receipt, but the officer destroys the receipt and pockets the cash, or reports half the cash and keeps the other half)?

So, is this how businesses deposit large amounts of cash? They just have a form 8300 they include in night deposit box? Shouldn't it be illegal for anyone to be required to post bail/bond that exceeds $9999.00 since assets to defend yourself may be in cash (Criminal = cash, poor people = cash, people with bad credit = cash, People who refuse to use technology Amish/Mennonites = Cash....) If I won the lottery and I want to have 10 million dollars in cash, is it not legal for me to have that cash? And even if I have a receipt, can it be seized from me?

Transition tax was intentional, trump blunder! Not thinking through the effects other than to appease his maga cult with an America First theme. That's exactly why GILTI was written into tax §.

I kept waiting for pages of questions related to Americans living abroad. But it just ended. Huh?

For a layman, the judgement, who gives good advice and who not is somewhat impossible

What a terrible name for a law - Bank SECRECY Act! There's nothing secret about it - the bank is constantly ratting out everyone who deposits cash. It's not like a Swiss bank account where it's confidential between you and the banker. I've heard of a case where a baker was charged with structuring weekly deposits of less than $10,000, and had his account seized and frozen. He was also visited by federal agents. Hello...a BAKERY is a cash business in many cases. He would have been better off accumulating cash for deposits larger than $10k, or maybe not depositing cash at all. That's how tyrannical the federal beast has become.

Thank you 🙏 For all your work putting this together and trying to educate people about what and how to be a expat and or dealing US tax’s

Thank you for being the only reasonable source of information about these topics. Surprises you aren't more popular.

You might want to rename your video. Came here for CNMI specific tax insight, but I think you mean "Why American Samoa Be the envy of the world."

16th Amendment is a violation of the 4th Amendment.

FBAR terrified me

John's comment about how people get shocked when we try to comply with the laws of a country that's been gracious to allow a Green Card and work in the country, only to suddenly realize we've misunderstood some complicated tax law and aren't compliant - exactly how I feel. Don't want to feel "duped" into paying tax penalties.

On REVPRO 2020-17 it was obviously written for a reason. Would of been better had they just put out a list and say if you have "ABC account" from "ABC Country" then this applies to you. They could still do that.

What is the statut of limitations on streamline filing/ non willfulness statements ?

Excellent podcast and very timely for me! Thanks

cool. question. will i get m social security money if I live outside USA under green card. thanks

One can do another thing when the IRS comes after them. They can choose pay what the IRS says they owe on the SFRs and call it a deal. It might be higher than scouring your files for deductions and doing the full end of year audit, but it will clear you off the IRS's back.

Swains Island guy checking in. The majority of OSAs will remain non-compliant 1st due to the costs of compliance and 2nd due to the submissions requirements that all too often compel further submissions requirements. Add to all of this other outstanding stateside pitfalls like delinquent debts in the US and compliance fast becomes downright insane. Question, if an OSA has no US based income or assets how may Treasury and/or IRS collect revenue and/or penalties?

I earn income through my US based LLC. basically I work from own single employee business. How does that work?

I live in the US and I am a US Citizen. My parents in a foreign country (Non US Citizens) recently passed away. I was given $6000 (six thousand) as my inheritance. Do I need to file Form 3520?

Paying taxes to US IRS from income you had abroad and paid taxes abroad already? No thank you!

So the courts are the brains now? Beltway counties, kings etc etc. what a trumper goon. Congress couldn’t write a law affecting biochemistry, nuclear energy, climate or even how traffic lights work. The US is heading for the slum it was always going to be.

How is a foreign retirement account considered when it is required by law to participate?

HOW can a Federal Reserve Note, a debt instrument, be used to measure a gain or "income"? I buy a house in 1990 for $45k, and sell that house in 2010 for $90k; HOW is there a gain when it takes twice as many dollars ($) in 2010? was there ZERO effort and cost over 20 years? why doesn't $45k buy the house in 2010? did the $ loose 1/2 of its "purchase" power in 20 years? HOW can a FRN be used as a measure of gain of value?

The discussion about freedom is BS. You are free to off yourself. All your problems are gone.

Stupid analogy. Didn't understand whatsoever.

Keith please: 1 - Get a better photo 2 - Do something about your audio setup. You often sound like you are calling in with a bad mobile phone connection. I do enjoy your input into these discussions

Swains Island guy checking in. Without voluntary disclosure by an honest or foolish American citizen (or in John's word a Schmuck), if there is no indication of a Mark of Cain US birthplace in the official national ID required by a bank to open a bank account, there is no way (YET) a banker can ascertain US citizenship. Any reply comments or disagreement? As I was editing Keith validated this precise finding).

When even the kings in foreign kingdoms do not claim the ability to force their citizen-subjects to pay tribute while outside of their kingdoms on this earth, no free republican or democratic government should even attempt to claim the power to force their nationals or citizens to pay tribute while abroad.

the 1040 Form is full of boxes, each box is independent of all other boxes, what people need to learn to comprehend the construction of the form is the Chicago Book Of Style...

One more comment - imposing more punishing policies on people with a certain eye color (such as blue) is NOT the same as imposing more punishing policies on people based on their nationality (such as American). The first (discrimination based on eye color) is not subject to strict scrutiny under the 14th Amendment. The second (discrimination based on nationality or race) is.

And what percentage of those people who read at a 6th grade level are theists??

Taxation is enslavement. The 13th Amendment (R) freed the slaves; the 16th Amendment (D) enslaved everyone. A debt-based economy is a variation of a Ponzi Scheme; new debt pays off old debt, and it takes more and more debt to sustain the economy.

Dems Abroad won’t support a taxation change?

FATCA came after me through my Swiss bank to fill out all their forms, even though I file and pay my US taxes every year. The result is that my Swiss bank, with whom I’ve had an account for over 30 years, threw me out and locked my account so that my Swiss bills suddenly stopped being paid. Based on FATCA, my bank decided that I don’t live in Switzerland any more, even though I have a Swiss address and pay Swiss taxes every year. Made my life very difficult and for no reason.

You either think this is a rights violation or you don't. If you think it's a violation of your rights, then you are either willing to accept it (for yourself AND on behalf others) or you aren't. If you are willing to accept the violation of your rights and the rights of others, then this fight is already lost. It's a good discussion but it's disappointing that nothing was said about this being a violation of rights. It was implied but not expressly said nor the consequences of this acknowledged.

First, thank you to all the hosts for putting this together. As someone born outside of the USA, but took (voluntarily) US citizenship to support my family and so we could remain in the USA, we have inherited the burdens of US empire into our lives. As the show demonstrated, everyone's situation is different. I think Keith explained that very well here. To assume that one's personal experiences with freedom is the same as others is naive at best, and potentially arrogant. Yes, many countries do not respect individual human rights. Many countries only respect corporate rights at the expense of the individual. We must choose where on this great planet we wish to reside based on these factors, but I do believe the choice has to be made without encumbrance from past residencies. We are not owned by any foreign power - we are individuals and respect (although I agree should be earned) should not be denied because of some lawmakers in one country's houses of power. Does the USA respect individual human rights? I thought so when I took citizenship. Today I'm not as sure. Blindly assuming it is better than another country does not consider the incarceration rate, the lack of political choice and manipulation by unelected power brokers, the eradication of individual freedoms vs. the empowerment of corporate overreach. The fact that a W2 employee is overtly taxed while a corporation has loopholes is not the fault of the average Joe worker. It is by design and a system that poorly represents the very people that vote the politician into power. In a country of laws, those laws are routinely hacked by lawmakers with the capabilities to do so. Unfortunately that is not representing the average individual, and in summation I cannot, in good faith, consider this any representative to the term "freedom".

Here's the reality for Americans that do not live in developing nations with a nice US income, US bank account and who have nothing much to report to the USA. kzbin.info/www/bejne/a6q4dmWCoJh0rbs

It sounds like from Michael Scranton's perspective the only question is whether expats are "free" or not. I guess this comes from a debate somewhere else online. He assumes that everyone understands the rules when they go abroad which is obviously not true for most people but regardless, he assumes that the rules aren't subject to change which is just not true. Yes, everyone has optionality and to higher or lower degrees of optionality but many Americans abroad are trapped by the existing American tax code and how it is enforced. I'm not really sure why IRSMedic bothered to invite Scranton onto this channel...I'm sure there are a lot of people one could interview who don't understand the issues but I wish I didn't spend my time to listen to the discussion.

there is no such thing as a U.S. citizen; Ex parte Frank Knowles Ca 1855

if a law requires interpretation IT CANNOT BE LAW...

did the US Congress intend the 16th Amendment to tax the hourly pay of the people? NO, such an intent would subject the people into an unlawful and forced indenture...

44:30 pertinent question. He assumes everyone understand 100% of the rules and therefore an actor always acts in its best interest. But US taxation is not a game theory optimal situation. Knowledge is hidden to an average individual.

The funny thing about this conversation is that he assumes everyone had a choice. 😂. Like you chose where you were born

Critical commentors at ease please. Our Fellow Traveler Michael S. has been quite fortunate in his expat success moreover that he benefits from a stateside bank account instead of a Fatca subject money pit. So while he appears oblivious to most pitfalls short of double taxation, he is not at fault for his luck that could dissipate at any moment.

Swains Island guy again. Is there a US-Argentina tax treaty? I would presume negative.

Swains Island guy checking in. Michal S. in order for your daughter to transmit citizenship to her children born outside the US with a non-US citizen father she needs 4 years of US physical presence over age 14. But if the birth-father is also a US citizen outdide the US or she gives birth on US soil she would bypass such physical presence requirement. Even less preferable if she is not married when the baby is born outside the US, Woke preferential rules permit her to transfer citizenship regardless of the father/sperm donor.

Sounds like a Twitter Argentina influencer 😅

He thinks all Americans abroad have fat wallets and took a decision to leave knowing the system they would live under, nonsense. He doesn't even know WHO he is talking about.