The United States of America taxes its citizens for the purposes of its government. While some may think this applies to just Americans living in the territorial boundaries of the US, it's not as simple. In fact, it applies to anyone who is an American citizen in any capacity. This includes citizens who live abroad, including dual nationals.

The United States makes up only 1% of nations around the world that tax its citizens earned income abroad. Only it and Eritrea actually conduct this practice, and both countries, enforce it with steep penalties. This means that any work earned on an official payroll, even if you've not lived in the US for many many years, is still taxable.

Through FACTA (Fair and Accurate Credit Transactions Act) and FBAR (Report of Foreign Bank and Financial Accounts), the United States levies its citizens all with incredible fiscal punishment if not complied with. FBAR especially is overreaching, as it requires even foreign banks to report all of its member's statuses to find Americans abroad and gives the US gov the ability to see into foreign bank accounts of Americans abroad.

Eritrea was punished for this practice of taxation abroad. The US has not and likely never will be. Americans abroad have no real representation, because we don't live there. This is a core reason why America exists, and as I type this, on July 4th, this is still a sour reminder that I may have to separate from a place I still feel connected to although I don't reside there. Just as the young United States had done over 240 years ago.

 

To add insult to injury, the IRS has even said in recent reports, that FACTA is generally unenforceable due to excess reports coming in.

 

So it's a completely useless law that does nothing more than serve to be a nuisance to anyone who has to deal with it.

 

This is unfair to the people of the United States abroad who found life in a place outside the union. It adds complications, misery, and pain to our lives for no gain, as we don't even live in the US to feel even the slight benefits of the taxes they levy on us.

 

Please sign this to push Congress to Repeal FACTA and FBAR. Share this around and be sure to help us get the word out.