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

November 24, 2021 - Participants Include:

Dr. Laura Snyder - @TAPInternation

Dr. Karen Alpert - @FixTheTaxTreaty

John Richardson - @Expatriationlaw

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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:

- SEATNow.org

- CitizenshipSolutions.ca

You can read the text of the bill here.

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In this podcast we discuss the groups affected (or not) by this bill as follows:

The Good: Those with income of below $108.000 who are NOT the owners of CFCs.

The Bad: Those with incomes in excess of $108,000 who are NOT the owners of CFCs.

The Ugly: Entrepreneurs abroad who own CFCs.

We are of the view that should it become law that the primary effect would be to divide Americans abroad even more.

We firmly believe that:

Pure residence-based taxation is the ONLY solution that solves the problem for ALL people ALL the time!

No left outs! No carveouts! We advocate PURE RESIDENCE-BASED TAXATION FOR ALL!