PREP Podcaster - ”Success Favours The PREPared Mind”
News:News Commentary
Breaking News! Build Back Better Confirms The Need For Pure Residence-based Tax!
December 20, 2021 - Participants include:
John Richardson - @Expatriationlaw
Jimi Gosart - Vice-President Republicans Overseas
In this episode we discuss a a proposed amendment to the Build Back Better bill which would disproportionately impact Americans abroad. The specific provision was a proposal to end the one carry year carry back of foreign tax credits allowed under Internal Revenue Code 904.
If passed this force Americans abroad to be more conscious of their US tax situation. When it comes to Americans abroad and US citizenship-based taxation Americans abroad should:
Think about CBT early! Think about CBT often! Think about CBT in relation to every aspect of their lives! And keep records of what they think about!
Thanks to Financial Times Reporter Emma Agyemang for this article!
____________________________ US bill threatens ‘double taxation for American expats in UK’Emma Agyemang
DECEMBER 17 2021
You can read the complete article here ...
https://www.ft.com/content/4c6d002d-5486-478d-88cf-83ff3847531d
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