Debate planned on U.S. tax policy for expats

An expat advocate organization plans a debate May 2 on the U.S. policy of taxing citizen income no matter where they live or work.

The organization is the American Citizens Abroad  Global Foundation, and the debate will be in Toronto, Canada. The organization said that Canada hosts about a million of the estimated 7.5 million Americans living overseas.

The debate is designed to educate Americans and also bring congressional attention to the income tax situation.

American Citizens Abroad supports residence-based taxation, which is the standard for most countries in the world. What the United States has now is  citizenship-based taxation, which is why Internal Revenue Service agents are getting banking information on Americans from Switzerland, Asia and even Costa Rica.

The organization says that residency-based taxation puts U.S. workers at a disadvantage overseas. The debate will be at  St. Michael’s College of the University of Toronto. Keynote speakers are two academics who have recently published ground-breaking papers on the issue of taxation of Americans abroad, said American Citizens. Professor Michael S. Kirsch of the Notre Dame School of Law will outline his defense of citizenship-based taxation, and Bernard Schneider, teaching fellow at the Centre for Commercial Law Studies of the Queen Mary University of London School of Law, will outline his proposal for residence-based taxation, the organization said.

“We are very excited about the launch of our new educational program,” said Charles Bruce, a foundation board member, in a release. “There is a major need to have an informed debate on U.S. taxation of Americans living and working overseas.  Congress needs to learn about the community of Americans abroad, their contribution to the United States and the very unique situations they face within the framework of American tax law.”

Other speakers include tax lawyers, investment advisors and businessmen who will discuss the impact of current U.S. tax law on Americans abroad, U.S. exports and the American economy, said the announcement. Details and information for registering are available HERE!

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