Welcome to episode 5 of the American Overseas Podcast: The burden of US persons overseas
America is the only first-world country in the world that enforces a tax duty on American citizens, wherever they live or work.
I’m Linda Mabelis and in this episode, I am talking about the burden of US persons overseas and the initiatives initiated by the organizations Americans Overseas and American Citizens Abroad in search of sustainable solutions for Americans abroad with Daan Durlacher, experience expert and Marylouise Serrato, executive director of Americans Citizens Abroad.
The subject: The burden of US persons overseas
What burden are we talking about? From American expats to coincidental Americans, they are all facing the same issue: and that is having to deal with citizen based taxation.
We, the founders of Americans Overseas, were born in the Netherlands and obtained our American nationality through our (American) mother. When we heard about this for the first time around 2013, we were in total disbelief (it can’t be true!), anger (how can they do this?), fear (am I going to get fined or pick up other problems?), and panic (what should I do?).
It is (unfortunately) true that there is an additional American tax levy. But there’s no information from the local government, and when approached, the consulate referred us to the IRS, and the IRS was impenetrable.
That’s why we started this initiative to help people from all over the world by providing proper information to avoid unnecessary panic, and offering help free of obligation and free of charge. If needed, we have a network of affordable professionals (accountants) who can help you with your tax obligations.
If you have more questions about American citizen-based taxation, you can contact us at Americans Overseas.