The consequences of being an "Accidental American" with special guest Keith Redmond

[@ateistsmart2905]

To be an "Accidental American" is a lot worse than just being an american expat: 1) If you have never lived in the US you have no understanding of the laws, especially the tax laws. Normal people adjust to the law to optimize. If you don't optimize and adjust, you will probably be in a bad situation. (I am 47 and only read about 401(k)?? plan 2 weeks ago). 2) If you have never lived in the US, you will have accumulated huge off-shore accounts and wealth. Bigger than other normal expats. Then again, this wealth is NOT off shore for us - it's onshore really. 3) We already pay full tax to our home countries 4) We don't have a network to help us out.......the list is long

[@BudMillwood]

Keith made an excellent point that I don't think received enough comment: He indicated that accidentals may eventually be given some type of exemption status (because Obama has acknowledged their plight), but that if they become compliant by entering the US tax system they could be foregoing that eventual exemption status. This is speculation of course, but his point is that no one knows what the "right" course of action is. In the meantime, they and others are absolutely terrified of the US federal government's tax policies.

[@mikebreen2890]

The irony is homeland Americans frequently justify CBT on the grounds that Americans overseas get US protection. Most Americans overseas would forego that in a heartbeat for protection from the USA. Given what they have seen the US government do to overseas Americans to date, they are right to be afraid. When do the forced repatriations begin in order to face the music for not paying their fair share? Impossible? The calls for blood in response to the exponential increase in renunciations are growing, not quietening.

[@Bentleyspeed81]

Sign the declaration of independence! Renounce your US citizenship!

[@harikuduva]

In this scenario the child was born in the US. How will foreign banks know you are an accidental american if you where born abroad to US parents?

[@baliyogatravelretreats]

Horrible.