Attention! Our Trip Is Entering International Waters: For Americans Abroad, Let The Double Taxation Begin!

<p>January 21, 2022 - Participants include:</p> <p>John Richardson - <a href='https://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p>Jim Gosart - Vice-President <a href='http://www.republicansoverseas.com/'>Republicans Overseas</a></p> <p> </p> <p>__________________________________________________</p> <p> </p> <p>Attention! We are entering "International Waters"! US Citizens be advised that you may now be subject to double taxation!</p> <p> </p> <p>__________________________________________________</p> <p>To Whom Much Has Been Given, Much Is Expected!!</p> <p>Yes, it's true! A US citizen, because and only because of the combination of US citizenship-based taxation coupled with living outside the United States, is likely to be subject to double taxation. The following discussion explains why.</p> <p>Part A: Introduction – About Citizenship-based Taxation Part B: How the Internal Revenue Code is designed to mitigate the effects of double taxation in certain circumstances Part C: Determining what is “foreign source” income Part D: The problem of international waters … Part E: The effect of sourcing to the US income earned in international waters by dual tax residents Part F: Deducting “foreign taxes” paid – although income from international waters may not be foreign, it is still subject to the payment of “foreign taxes” Part G: Can a US citizen living abroad be saved by a tax treaty? Maybe if he/she lives in Canada**** Part H: Conclusion and the need for “Pure Residence-Based Taxation”</p> <p>You can read the horrible details here ...</p> <p> </p> <p><a href='https://www.taxconnections.com/taxblog/airline-and-cruise-ship-employees-how-income-earned-in-international-waters-may-lead-to-double-taxation-for-only-americans-abroad/'>https://www.taxconnections.com/taxblog/airline-and-cruise-ship-employees-how-income-earned-in-international-waters-may-lead-to-double-taxation-for-only-americans-abroad/</a></p> <p> </p>